A major real estate crisis involving the Piyush Group has left over 1,500 homebuyers stranded, with multiple housing projects remaining incomplete across parts of Haryana. Buyers who invested their savings years ago are still awaiting possession, as delays and financial irregularities continue to surface.
Investigations reveal that funds collected from homebuyers were allegedly diverted into new land acquisitions instead of being used to complete ongoing projects. This created a cycle of stalled construction, cash flow issues, and mounting uncertainty for affected families.
Authorities, including the Enforcement Directorate, have stepped in, attaching assets worth approximately ₹944 crore linked to the company and its promoters. The assets include land parcels, apartments, and commercial properties spread across key locations such as Faridabad, Palwal, and Bhiwadi.
The situation has been further complicated by insolvency proceedings initiated in 2019, with no clear resolution plan finalized so far. Experts note that the case highlights serious concerns around financial transparency, regulatory oversight, and developer accountability in the real estate sector.
For many buyers, the crisis represents not just financial loss but years of uncertainty tied to their dream of homeownership.
