Archive · 23 May 2025
CBI Probes Noida Projects for Subvention Scheme Fraud
The CBI is checking out 24 housing projects in Noida because it thinks something fishy might have happened with how they got money.
They're looking into a special loan plan where the banks were supposed to pay the interest for homebuyers, but things went wrong.
The CBI wants to see if the banks and builders followed the rules, if money went where it shouldn't have, and if anyone was cheated.
The Supreme Court told everyone to help with the investigation.
The CBI is also checking if money was moved around in the projects in ways that were not allowed.
The CBI is also probing other cities such as Gurgaon, Ghaziabad, and key metropolitan areas like Mumbai, Bengaluru, Kolkata, Mohali, and Allahabad.
The CBI is investigating 24 real estate projects for financial irregularities.
The probe follows a Supreme Court directive and focuses on a subvention scheme.
The investigation includes projects from Noida, Greater Noida, and the Yamuna Expressway.
Authorities, banks, and developers are under scrutiny for their roles.
The CBI will investigate potential violations of RBI and NHB guidelines.
- Who
- Involves the CBI, Noida Authority, Greater Noida Authority, Yamuna Expressway Authority, developers, banks, and homebuyers.
- What
- The CBI is investigating 24 real estate projects in Noida, Greater Noida, and the Yamuna Expressway, looking into potential financial irregularities and a subvention scheme that may have defrauded homebuyers.
- When
- The CBI probe began after a Supreme Court directive on April 29.
- Where
- The probe covers real estate projects across Noida, Greater Noida, and areas along the Yamuna Expressway.
- Why
- To investigate alleged financial irregularities in the subvention scheme, determine if banks followed guidelines, and uncover potential fund diversions.
- Projects Under Scrutiny
- 24
- Development Authorities Involved
- Noida, Greater Noida, Yamuna Expressway
- Supreme Court Directive
- April 29
- Agency Conducting Probe
- CBI
- Primary Focus
- Subvention Scheme & Financial Irregularities
