Raheja Developers Limited, (RDL), formerly Raheja Developers Private Limited, is an Indian

real estate development Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw Real Estate, land and the sale of developed land or parcels ...

company with its headquarters in

Delhi Delhi, officially the National Capital Territory (NCT) of Delhi, is a city and a union territory of India containing New Delhi, the capital of India. Straddling the Yamuna river, primarily its western or right bank, Delhi shares borders w ...

, India. RDL was incorporated in 1990 by Navin Raheja, and is currently managed by its chairman Navin Raheja.

History

Raheja Developers Limited was incorporated by Navin Raheja in 1990. The group has worked with contractors such as

Aedas Aedas is an architectural firm with eleven International offices founded by the Welsh architect Keith Griffiths. Aedas provides services in architecture, interior design, urban design, masterplanning and graphic design. It was established in 2002 ...

, Shapoorji-Pallonji and two of its joint-development projects were in collaboration with

Tata Group The Tata Group () is an Indian multinational conglomerate headquartered in Mumbai. Established in 1868, it is India's largest conglomerate, with products and services in over 150 countries, and operations in 100 countries across six continent ...

. It had also collaborated with

Dubai Dubai (, ; ar, دبي, translit=Dubayy, , ) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the 7 emirates of the United Arab Emirates.The Government and Politics of ...

-based Arabtec Construction. In 2008, Raheja Developers planned to build a Special Enterprise Zone (SEZ) in

Gurgaon Gurgaon (pronunciation: �ʊɽɡãːw, officially named Gurugram (pronunciation: �ʊɾʊɡɾaːm, is a city located in the northern Indian state of Haryana. It is situated near the Delhi–Haryana border, about southwest of the nationa ...

at an estimated cost of $660M US. The development was to be on a site, but the project did not advance. The

Government of India The Government of India (ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, c ...

announced denotification of the SEZ project on 29 January 2014. In 2020, Raheja Revanta, the tallest residential towers by Raheja Developers, was awarded the Luxury Project of the Year by CNN News 18 Real Estate Business Excellence Awards. The project is being built by Arabtec, the makers of

Burj Khalifa The Burj Khalifa (; ar, برج خليفة, , Khalifa Tower), known as the Burj Dubai prior to its inauguration in 2010, is a skyscraper in Dubai, United Arab Emirates. It is known for being the world’s tallest building. With a total height ...

, Dubai, but now a dispute has developed between Raheja Developers and Arabtec and the matter of contract-termination reached the Delhi High Court
IndianKanoon: Raheja Developers Ltd vs Arabtec Construction (India) on 14 May, 2020
Raheja Vanya, located in Gurugram, bagged the Green Project of the Year Award 2020.

Controversies

In 2010, a raid by Indian Income Tax authorities led to a recovery of tax evasion amounting to . In 2014 investigative portal Cobrapost conducted a sting operation against several real estate developers. It alleged that Raheja was one among the several developers willing to accept

black money A black market, underground economy, or shadow economy is a clandestine market or series of transactions that has some aspect of illegality or is characterized by noncompliance with an institutional set of rules. If the rule defines the se ...

. Based on this, the

Central Board of Direct Taxes Taxes in India are levied by the Central Government and the State Governments by virtue of powers conferred to them from the Constitution of India. Some minor taxes are also levied by the local authorities such as the Municipality. The authori ...

ordered a probe into Raheja and 34 other developers. In 2014, the Prime Minister of India's Office ordered a probe relating to alleged irregularities in a

housing project named Raheja Atharva. Subsequently, the State Level Expert Appraisal Committee investigated, and 0.8 acres of the Atharva project was sealed as it was illegally constructed without any Environmental Clearances. In October 2019, one of Raheja's projects were imposed with a heavy fine, for flouting pollution norms. In July 2019, Raheja Developers faced insolvency proceedings under the Section 7 of Insolvency and Bankruptcy Code, 2016, on a complaint filed by home buyers on alleged delay in delivery of flats. On enquiry, the NCLAT bench observed that the home buyers had filed the application with intent of refund of money. The NCLAT reserved its order in the case in September 2019, further removing the Interim Resolution Professional (IRP) in January 2020, thus allowing the board of directors to take back control of the company.

References

{{Reflist, 20em Real estate companies of India Indian companies established in 1990 Privately held companies of India