According to the reports, NIA sleuths carried our extensive searches at the residence of Ajaz Ahmad Hakak in Nowhatta area of the old city.
The raids were conducted in connection with the Kashmir funding case in which several separatist leaders have been detained.
Security forces cordoned off the Nowhatta area in downtown Srinagar on Tuesday morning before the team of NIA raided the house of businessman Ajaz Ahmad Hakak.
Earlier in July, the NIA had arrested seven separatist leaders on charges of criminal conspiracy, “creating unrest” and waging war against India.
Further details are awaited.