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ARTICLE · 16 DECEMBER 2019

CCI Dismisses Complaint Against New Gurgaon Real Estate Developer

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On October 3, 2019, the CCI dismissed allegations of violations of Sections 3 and 4 of CA02 against Vatika Limited (‘Vatika'), filed by Mr. Suresh Chander Gupta...

IndiaReal Estate and Construction
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On October 3, 2019, the CCI dismissed allegations of violations of Sections 3 and 4 of CA02 against Vatika Limited ('Vatika'), filed by Mr. Suresh Chander Gupta ('Informant').1 Vatika is one of the top real estate developers in new Gurgaon and was developing 'Vatika Town Square', a commercial tower in a commercial-cum-retail shopping complex, at the junction of Dwarka Express Highway and the Delhi-Jaipur Highway.

The Informant was told by Vatika in 2012 that construction of Block-D of Vatika Town Square, where the Informant was looking to purchase commercial space, would be completed by the end of June 2015. The Informant paid a sum of Rs. 2,50,000 on January 3, 2013, and signed the application for allotment. The Informant also paid an advance of 40% of the total amount on February 18, 2013, with the remaining 60% being due at the time of possession. Lastly, the Informant was told verbally that if, for any reason, there was a delay in construction or any other

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