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Black Friday for north India's realtors as CBI raids 15 developers

Stock prices tank, other developers run for cover

Black Friday for north India's realtors as CBI raids 15 developers
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Karan ChoudhurySameer Mulgaonkar New Delhi/Mumbai
It was a black Friday for north India’s real estate companies as the Central Bureau of Investigation (CBI) raided offices and properties of 15 of the biggest developers in the region.
 
From JMD, Gupta Promoters Private Ltd, and H S Realty, to major ones including Ansal Properties, Emaar MGF, and DLF — all had their offices raided by CBI sleuths in simultaneous raids.
 
The CBI booked former Haryana chief minister and Congress leader Bhupinder Singh Hooda on cheating and corruption charges in connection with land acquisition in Gurugram that favoured private builders. It conducted searches at 20 locations

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