Four property dealers were arrested in Delhi and over Rs 6 crore in demonetised notes seized from them, Delhi Police said on Wednesday.

The accused were carrying the demonetised currency notes in a Honda City and Maruti Ritz cars to exchange it in upscale Safdurjung Enclave market area, a senior police officer told IANS.

"Over Rs 6.58 crore in currency notes of Rs 500 and Rs 1,000 was seized," the officer said.

Two of the accused, Sunil and Jitender, told police they invested in multi-storyed housing projects.

The Income Tax Department officials have seized the cash and are investigating Intial investigation suggested the involvement of some hawala traders, he added.