The special Prevention of Money Laundering Act (PMLA) court remanded Masood to judicial custody.
Masood had been arrested from Delhi on December 14 and was in the Enforcement Directorate (ED) custody till today.
He is accused of duping thousands of investors through his companies-- City Limouzines and City Realcom.
"He has revealed about many of his immovable properties and the verification is going on," an ED source said.
The ED had earlier said that Masood owns properties worth Rs 400 crore. In April this year, after registering a case against Masood under PMLA, the ED attached his properties suspecting they were purchased from proceeds of crime.
Recently, the Ed had attached Masood's Swiss bank accounts as well.
Mumbai police had earlier lodged a cheating and fraud case against the businessman for allegedly duping people by promising unrealistic returns on their investments through various schemes.
The Mumbai police had also moved the court earlier to cancel his bail.
