The funds were received from customers under pre-booking or to block their interested area in ongoing constructions.
"We are committed to working with the authorities to address any questions they might have. We remain committed to our mission to provide rigorous research to policymaking in India," it said.
The police found that the stolen property is in the custody of Haris P K, 52, of Kannur, first accused in the case, who is still on the run.
So far, the investigation from evidence collected during the search has revealed the quantum of unaccounted receipts aggregating to more than Rs 150 crore, the finance ministry said.
The modus-operandi followed by the group included unfair regular collections on coal transportation throughout the state, leading to generation of huge unaccounted income.
The Income Tax department conducted searches at 40 locations connected to MGM Group in Chennai, Tirunelveli and Karnataka for suspected tax evasion.
The theft happened at the house of Sanjay, a Maharashtra native who has settled here and is engaged in jewellery work.
Sources said the raid was carried out after a preliminary inquiry following the revelation of unaccounted money used in the land transaction.
Income Tax raids start at 30 locations in Madhya Pradesh and Bengaluru, associated surveys on in three other states
Extensive raids by the Income Tax department at 30 premises of a Bhopal-headquartered premier real estate business group began in three cities of the country on Wednesday.
The Income Tax Deparment have begun raids at Sasikala and her relatives' properties in Poes Garden, Chennai.
Jaya TV office was one among the many locations where I-T sleuths had conducted searches since last Thursday, which ended yesterday.
The searches were conducted in connection with unexplained routing of cash post-demonetisation through shell companies allegedly connected to Sasikala and her nephew TTV Dhinakaran.