In a sweeping crackdown on financial irregularities, the Income Tax Department conducted raids on September 2 across 18 locations in Jaipur and Kota, targeting prominent real estate groups suspected of black money dealings and tax evasion.
The operation began early morning and focused on eight premises linked to High Fly Real Estate Group, six sites associated with Gokul Kripa Group and BRB Developers, and additional locations tied to other colonizers. Officials cited complaints of large-scale cash transactions, benami property deals, and manipulation of land prices as key triggers for the raids2.
Sources revealed that these firms were allegedly purchasing land in surrounding areas, inflating prices through internal transactions, and selling properties off the books to evade taxes. Diaries, digital records, and documents detailing years of property deals were recovered during the searches.
The raids have reportedly led to the seizure of Rs2 crore in unaccounted cash, dozens of bank lockers, and evidence of undisclosed investments. Investigators are also examining links between the developers and marketing firms used to layer transactions.
Officials noted that the real estate sector in Rajasthan has been under scrutiny for months due to rising complaints of cash-based property deals and complex financial structuring. The department is expected to release a formal statement once the searches conclude and all findings are assessed.
The action has sent ripples through Jaipur and Kota’s real estate circles, with developers and brokers closely watching the fallout.
