Major real estate organizations with headquarters in Noida, Uttar Pradesh, were searched by the Income-Tax department on Thursday, according to government sources, as part of an inquiry into tax cheating.
They said that the tax authority had raided the offices of real estate groups like Bhutani Infra, Group 108, Logix, and a few more businesses.
The searches began after noon and included a total of 37 locations in Noida, Delhi, and nearby Faridabad (Haryana), according to the sources.
When PTI called Group 108, Logix Group, and Bhutani Infra, none of them responded right away.
The sources added that the raids were still ongoing and that the search teams had examined the inventories and books of accounts of these groups.
The luxury property developer Bhutani Infra announced last year that it was building a 15 million square foot area in four projects in Noida and is making its first foray outside the national capital region in four locales, including Goa.
Aside from housing, the Logix firm has constructed sizable facilities for the Information Technology (IT) industry.
