Vatika INXT High Street Sector 83, Gurgaon

Vatika INXT High Street is registered under the Haryana Real Estate Regulation Act (RERA) with registration number 263 of 2017 dated 03-10-2017.

Vatika INXT High Street in Sector 83, Gurgaon, is emerging as a futuristic high street commercial complex, attracting residents and nearby people. Spread over 3.34 acres beside NH-8, it offers amenities like lifestyle shops, restaurants, spa, gym, and a kids' zone. A 14-screen PVR multiplex is also planned.

As of January 2021, the 1st-floor roof slab casting was completed for block-1A, and 2nd-floor column casting was in progress at High Street at INXT, Sector 83, Gurgaon.

Haryana Real Estate Regulatory Authority (HRera) has banned sale and purchase of properties in Vatika township INXT 2 in Sectors 88A and 88B for not registering the project with the authority. The regulator has observed that the developer has not submitted several mandatory documents for re-registration and is yet to pay deficit registration fee and the license of the project is already expired and due for renewal.

The National Company Law Tribunal addressed a case (VATIKA LIMITED v. MR. RAVI LUTHRA) involving allottees of the 'High Street (Phase I)' project in Sector 83, Gurugram, who sought to be impleaded as financial creditors due to the corporate debtor's failure to deliver possession of commercial units within the agreed timeline. Vatika Limited filed an application to reject the petition, stating that the petitioners did not meet the threshold of 100 real estate allottees or 10% of the total allottees for the project.

Vatika Limited and its directors have been booked for cheating homebuyers in Gurugram, with an FIR registered against them under multiple sections of the Indian Penal Code (IPC) at Kherki Daula police station. Buyers alleged that they paid money between 2013 and 2015 for apartments in Vatika Tranquil Heights in Sector 82A, but the firm only had permission to carry out construction over a 5.41-acre plot, while the rest of the land is owned privately.

The Real Estate Regulatory Authority (RERA) court in Gurugram has penalized Vatika Limited for violating the builder buyer agreement. The court imposed a penalty of Rs 1,00,000 for each complaint and directed the promoter to execute the buyer's agreement within 30 days. The court also imposed a penalty of Rs 25000 for each complainant to pay within 30 days.

The Haryana Real Estate Regulatory Authority (RERA) court has fined real estate developer Vatika more than Rs 6 lakh for breaching provisions of the builder-buyer agreement rules. Vatika was found to have violated Section 13 of the 2016 Act, and as a result, the Authority imposed a penalty of Rs 1 lakh for each complaint under Section 61.

The Enforcement Directorate (ED) has provisionally attached nine immovable properties valued at Rs 68.59 crore in connection with a builder-investor fraud case involving Vatika Limited. The ED investigation follows multiple FIRs lodged in 2021 by the economic offences wing, Delhi, against Vatika Limited, its promoters Anil Bhalla and Gautam Bhalla and others. The projects under scrutiny include Vatika Inxt City Centre Tower D, E & F (Gurgaon), Vatika Mindscapes Tower-C (Faridabad), Vatika Towers Tower-C (Gurgaon) and Vatika High Street (part of V'Lante, Gurgaon).

The Enforcement Directorate has attached a property worth Rs 108 crore linked to Vatika Limited, which is accused of investor fraud and incomplete projects. Investigation revealed that around Rs 248 crore was invested by 659 investors in four projects, including Vatika Inext City Centre Towers D, E and F Gurugram, Vatika Mindscapes Tower-C Faridabad, Vatika Towers Tower-C Gurugram, Vatika High Street (V Lante) Gurugram.