Project Summary
Indiabulls Heights is a group housing project on 5.589 acres in Sector 104, Gurugram. It is being sold as a new launch: 624 residential units in four towers, plus 588 EWS units in two more. The registration is not new. On 17 October 2025, three years after it expired, HRERA continued the 2017 "One Indiabulls" registration, 160(A) of 2017, under section 7(3) and set a new completion date of 30 October 2030. Back in December 2019 that project was 3% complete, with 211 units booked. On the plus side, the registration can be traced on the HRERA portal, the continuation order requires monthly progress reports and makes delay compensation payable from the promoter's own funds, and the expressway is open. Buyers should still look hard at the ₹25 lakh penalty, six complaint and monitoring cases, an existing lender charge, and a CBI chargesheet naming the development rights holder. The listing prices also look cheap only because they are quoted on super area. Using the carpet areas in the official brochure, the 2 BHK comes to about ₹22,100 per sq ft.
Project Gallery
Risk Assessment
Weighed both waysPositive Factors
- There is a valid HRERA registration, and it is printed on the official brochure: 160(A) of 2017, continued to 30 October 2030 by an order dated 17 October 2025.
- Under the continuation order, the promoter has to file monthly PERT progress reports with HRERA. HRERA also holds two ₹25 lakh security drafts, forfeited if the service plan and environmental clearance are not filed on time.
- Delay compensation under section 18(1) has to come from the promoter's own funds, not project collections, and possession dates in existing buyer agreements cannot be moved later.
- Dwarka Expressway is fully open, the Delhi section included since August 2025. By road, Gurugram railway station is about 2.4 km away, Yashobhoomi about 11.4 km and IGI Terminal 3 about 23.5 km.
- Measured on super area, the ₹13,000/sq ft listing rate (Square Yards, September 2026) is lower than the Sector 104 averages of ₹14,150 (Square Yards) and ₹14,350 (Realty Hunting).
Limitations & Flags
- This is not a fresh launch. The project runs on a 2017 interim registration that expired on 30 October 2022 and was only continued under section 7(3) on 17 October 2025.
- HRERA fined the promoter ₹25 lakh for violating sections 3 and 4 of the RERA Act, paid on 7 October 2025. The certificate does not say what the promoter did to attract it.
- At continuation, service plan approval and environmental clearance were still pending, with deadlines of 4 and 6 months.
- HRERA lists six complaint and monitoring cases against the registration, filed between 2019 and 2026.
- The ₹13,000/sq ft rate is quoted on super area. For the 2 BHK the official brochure shows 882 sq ft carpet against 1,518 sq ft super, which puts the effective rate at about ₹19,060-22,100 per sq ft of carpet. There is no official price list.
- Portals disagree on price and size (₹1.95 crore to ₹2.73 crore; 1,500 to 2,282 sq ft), and the 3 BHK sizes in listings do not match any plan in the brochure.
- Indiabulls Nests Ltd, the joint development rights holder, is named as an accused in an August 2026 CBI chargesheet that alleges cheating and criminal breach of trust in a West Bengal homebuyer case. These are allegations. There is no verdict.
- Several companies share the project. Juventus Estate Ltd holds the licence, Indiabulls Nests Ltd holds development rights and Indiabulls Ltd owns the brand, while some listing pages wrongly credit Indiabulls Real Estate (now Embassy Developments).
- Earlier Indiabulls-branded projects in Gurugram were delivered late. For Indiabulls Enigma, Sector 110, HRERA's order in complaint 2011 of 2023 records a due date of 26 January 2015 and a possession offer dated 12 January 2023.
- The original project was due for completion by 30 April 2022. In December 2019 it was 3% built, with 211 units booked. The new date, 30 October 2030, is eight and a half years later.
- The certificate records an existing lender charge on the project's receivables, and some licences and approvals expire before the 2030 completion date.
Pricing & Configuration
Listing asking prices, Q3 2026| Config | Super Area | Price Range |
|---|---|---|
| 2 BHK + utility | 1,518 sq ft (882 carpet) | ₹1.95Cr - ₹1.99Cr |
| 3 BHK (+ utility or servant) | 2,072-2,106 sq ft (1,259-1,310 carpet) | ₹2.40Cr - ₹2.73Cr |
Price Includes
- Under HRERA condition (viii), units must be sold on carpet area at a total price that covers all charges.
- The same condition bars charging EDC and IDC separately.
Additional Charges
- GST on the under-construction price
- Stamp duty and registration charges on the conveyance deed
- Preferential location charges for floor or facing
- Car parking
- Club membership
- Interest-free maintenance security (IFMS)
Listing portals put 2 BHK units at 1,500 sq ft and 3 BHK units at 1,850 to 2,100 sq ft, and don't say whether that is carpet or super area. For the 2 BHK, the official brochure gives 882 sq ft carpet and 1,518 sq ft super. Get the all-inclusive price per sq ft of carpet area in writing. The RERA certificate requires it.
Project Snapshot
At a glancePrime Location
Sector 104 · Dwarka Expressway · GurugramSector 104 is on the Gurugram side of Dwarka Expressway, near the Delhi border and the old city around the railway station. The Haryana stretch of the expressway opened in March 2024. The Delhi stretch, with tunnel access towards IGI Airport and Yashobhoomi, followed in August 2025, so the road link already exists. Indiabulls Estate & Club, another Indiabulls project, is on the same 34-acre licence pool. The distances below are by road from the Sector 104 centre point, so the project gate could be up to a kilometre off.
- Gurugram Railway Station (Sector 3A)≈ 2.4 km
- Rajiv Chowk≈ 6.6 km
- Medanta The Medicity (Sector 38)≈ 9.2 km
- Yashobhoomi (IICC, Dwarka Sector 25)≈ 11.4 km
- Cyber City≈ 15.6 km
- IGI Airport Terminal 3≈ 23.5 km
The brochure puts Yashobhoomi metro 5 minutes away and IGI Airport 15 minutes away. By road, Yashobhoomi is about 11.4 km and Terminal 3 about 23.5 km. Read the brochure times as best-case drives.
Amenities
As advertisedClub & Lifestyle
Sports
Family & Community
This list is taken from the master-plan legend in the official brochure, plus the three items named in the RERA certificate. The brochure does not give a clubhouse size. Claims of a 1,00,000 sq ft clubhouse, an indoor temperature-controlled pool, VRV air-conditioning and Italian marble show up only on channel-partner websites. The brochure itself specifies marble in living and dining areas, wooden flooring in the master bedroom and vitrified tiles everywhere else.
Builder Profile
Juventus Estate Ltd and Indiabulls Nests Ltd (Indiabulls Ltd group)The "Indiabulls" name on this project belongs to Indiabulls Ltd, the listed company once called Yaari Digital. It does not belong to the old Indiabulls Real Estate, which is now Embassy Developments. Juventus Estate Ltd, the licence holder, was an Indiabulls Real Estate subsidiary until Dhani Services bought it in December 2022, which means One Indiabulls stalled from 2017-2022 under the old group. Indiabulls Nests Ltd holds development rights on the main 4.18 acres and is named as an accused in an August 2026 CBI chargesheet. HRERA lists six cases against the registration.
Full corporate & complaint record
The HRERA continuation certificate names two promoters. Juventus Estate Ltd (CIN U70109DL2006PLC151259) is the licence holder and promoter for Phase 2 (1.409 acres). Indiabulls Nests Ltd (CIN U68200DL2009PLC191143), reported as formerly Indiabulls Distribution Services Ltd, holds joint development rights for Phase A (4.18 acres). The certificate gives the promoter address as A-2, First Floor, Kirti Nagar, Ramesh Nagar, New Delhi, and the sales email is a Dhani address. Indiabulls Real Estate sold Juventus and Mabon Properties, together about 35 acres in Sector 104, to Dhani Services under an agreement dated 23 December 2022 at an enterprise value of ₹240 crore. Dhani later merged into Indiabulls Ltd (BSE 533520).
HRERA lists six complaint and monitoring cases against registration 160(A) of 2017: RERA-GRG-5347-2019, 2768-2022, 3085-2022, 5001-2022, 3239-2023 and 3416-2026. In October 2025 HRERA imposed a ₹25 lakh penalty for violating sections 3 and 4 of the RERA Act before continuing the registration. In August 2026 the CBI filed its 18th chargesheet in the Supreme Court-monitored homebuyer probe. It concerns a Rajarhat housing project in West Bengal and names MKHS Housing LLP, Indiabulls Distribution Services Ltd (now Indiabulls Nests Ltd) and Indiabulls Investment Advisors Ltd among the accused, according to StudyCafe and PropNewsTime. The charges are criminal conspiracy, cheating and criminal breach of trust. These are allegations, and no court has ruled on them.
Under the old Indiabulls Real Estate group, the brand delivered some Gurugram projects late. In Indiabulls Enigma, Sector 110, HRERA's order in complaint 2011 of 2023 records a due date of 26 January 2015 and a possession offer of 12 January 2023. In Indiabulls Centrum Park, Sector 103, HRERA held a buyer entitled to delayed possession interest in complaint 1233 of 2020. The current group's sibling project, Indiabulls Estate & Club - I (promoter Indiabulls Pharmacare Ltd), reported selling 195 units worth over ₹1,000 crore within about 30 days of its 14 January 2025 launch. Its RERA completion date is 14 October 2029.
Who This Fits
Fit checkGood Fit
- End users who can wait until October 2030 at the earliest and have somewhere else to live until then
- Buyers who want Dwarka Expressway access and a short drive to Gurugram railway station and Rajiv Chowk
- Buyers willing to read the HRERA continuation certificate and case list before paying anything
- Buyers who negotiate on carpet area and get the all-inclusive price in writing
Poor Fit
- Anyone who needs possession before 2030
- Buyers who see the ₹13,000/sq ft listing rate as a bargain, when the carpet rate is closer to ₹19,000-22,100
- Investors hoping for a quick flip, with 624 units on sale here alongside other Indiabulls launches on the same licence pool
- Buyers who are uneasy about a developer entity named in an ongoing CBI chargesheet
- Anyone paying a large share upfront on a plan that only a listing site has quoted
Key Highlights
Field notes- HRERA registration 160(A) of 2017 was continued under section 7(3) on 17 October 2025.
- The registration had expired on 30 October 2022.
- New RERA completion date: 30 October 2030. The original was 30 April 2022.
- HRERA imposed a ₹25 lakh penalty for violating sections 3 and 4 of the RERA Act.
- The project was 3% complete in December 2019, with 211 units booked and about ₹29.5 crore collected.
- 624 residential units in four towers, plus 588 EWS units in two towers.
- 5.589 acres under this registration, out of a 34.0229-acre licensed area.
- Brochure plans cover Towers C and D only.
- 2 BHK: 882 sq ft carpet, 1,518 sq ft super area.
- 3 BHK: 1,259-1,310 sq ft carpet, 2,072-2,106 sq ft super area.
- Listing asking rate: ₹13,000/sq ft on super area (Square Yards, September 2026), up from ₹8,250 in December 2025.
- Effective carpet rate: about ₹19,060-22,100 per sq ft.
- RERA condition requires sale on carpet area at an all-inclusive price.
- Six HRERA complaint and monitoring cases are listed against the registration.
- An existing lender holds a charge on project receivables.
- Indiabulls Nests Ltd is named as an accused in an August 2026 CBI chargesheet (allegations only).
- Dwarka Expressway is fully open, including the Delhi section since August 2025.
- Gurugram railway station is about 2.4 km by road; IGI Terminal 3 about 23.5 km.
Questions to Consider
- What happened to the 211 One Indiabulls bookings from 2017-2019, and are those units part of the current 624-unit plan?
- Have the service plan estimates and environmental clearance required by the 17 October 2025 certificate been approved? Can I see copies?
- Which lender holds the existing charge on project receivables, and how much is outstanding?
- What is the all-inclusive price per sq ft of carpet area for my unit, as the RERA certificate requires?
- Which company signs my builder-buyer agreement: Juventus Estate Ltd or Indiabulls Nests Ltd?
- What conduct led to the ₹25 lakh penalty under sections 3 and 4 of the RERA Act?
- What is the status of HRERA cases RERA-GRG-5347-2019, 3239-2023 and 3416-2026?
- Are Towers A and B part of this sale, and where are their floor plans?
- How many floors does each tower have, and what is the current construction stage of each?
- Is the clubhouse part of this registration's approved plans, and what is its area?
- Does the CBI chargesheet against Indiabulls Nests Ltd change its role or obligations in this project?
- What is the payment schedule, and is it tied to construction milestones?
Between the Lines
Deep diveRead the full analysis
The "new launch" is a 2017 project. The registration on the brochure, RC/REP/HARERA/GGM/160(A) of 2017/7(3)/89/2025/31, is a section 7(3) continuation of interim registration 160(A) of 2017, filed in 2019 as "One Indiabulls". That project listed 809 units, with 211 booked, ₹22,201.78 lakh of sales and ₹2,949.90 lakh collected from buyers. The registration expired on 30 October 2022 and stayed lapsed for three years. The ₹25 lakh penalty was for violating sections 3 and 4 of the RERA Act. Section 3 bars advertising, booking or selling without a valid registration. The certificate does not say what HRERA penalised, but the lapse from 2022 to 2025 is on the record.
The cheap rate is a super-area rate. Square Yards shows ₹13,000 per sq ft, below the Sector 104 averages of ₹14,150 to ₹14,350. The official brochure lists the 2 BHK at 882 sq ft carpet and 1,518 sq ft super, a loading of 72%. That makes a ₹1.95 crore 2 BHK cost about ₹22,100 per sq ft of usable carpet. The same Square Yards page put the project's own asking rate at ₹8,250 in December 2025, which means the listed rate went up about 58% in nine months.
One licence, several companies. The 34.0229-acre licence pool (licences 246 of 2007 and 56 of 2011, among others) sits under Juventus Estate Ltd and Mabon Properties Ltd. Heights is promoted by Juventus with Indiabulls Nests Ltd as development rights holder, while the neighbouring Indiabulls Estate & Club - I runs on the same licences through Indiabulls Pharmacare Ltd. Some listing pages still credit the old Indiabulls Real Estate, now Embassy Developments, which no longer owns this land. Buyers should know exactly which company they are signing with.
The certificate's conditions contain warnings of their own. Condition (F)(viii) refers to "the charge already created in favour of existing lender", so someone already holds a claim on the receivables. Condition (F)(x) notes that some licences and approvals expire before 30 October 2030. And the promoter had to lodge two ₹25 lakh security drafts because the service plan and environmental clearance were still outstanding when the registration was revived.
The listings contradict each other. Land is described as 17 acres, 34.02 acres or 5.58 acres; units as 624 or 1,212; possession as September 2029 or October 2030. The RERA figures are 5.589 acres, 624 residential units plus 588 EWS units, and 30 October 2030.
Honest Verdict
Where this nets outIndiabulls Heights has a real registration, a working expressway at its door and a continuation order that makes the promoter report to HRERA every month. Those count for something. The order also says delay compensation comes out of the promoter's own money, which protects buyers better than most launches do.
But this "new launch" is a project that has already failed once. One Indiabulls was due in April 2022, was 3% built at the end of 2019, lost its registration in 2022 and came back only after a ₹25 lakh penalty. The same land now carries a 2030 deadline, an existing lender charge, six HRERA cases and a development partner named in a CBI chargesheet. Nor is the price as low as it looks. ₹13,000 per sq ft on super area works out to roughly ₹19,000-22,100 on carpet.
Our position: do not book on a listing-site EOI. If you still want a unit, get written answers on the old allottees, the lender charge and the pending approvals first. Insist on an all-inclusive carpet-area price, and keep early payments small and tied to construction stages. Buyers who need a home before 2030 should look elsewhere.
Frequently Asked Questions
Quick answersIs Indiabulls Heights Sector 104 RERA registered?
Yes. It is registered with HRERA Gurugram as 160(A) of 2017, continued under section 7(3) by certificate RC/REP/HARERA/GGM/160(A) of 2017/7(3)/89/2025/31 dated 17 October 2025, valid to 30 October 2030. This continues the 2017 One Indiabulls registration. It is not a new one.
What is the price of Indiabulls Heights?
Listing sites quote about ₹1.95 crore to ₹1.99 crore for a 2 BHK and ₹2.40 crore to ₹2.73 crore for a 3 BHK, which is around ₹13,000 per sq ft on super area (Square Yards, September 2026). Using the brochure's carpet areas, that comes to roughly ₹19,060-22,100 per sq ft. The developer has not published a price list.
When is possession of Indiabulls Heights?
The RERA completion date is 30 October 2030. Under the original One Indiabulls registration, completion was promised by 30 April 2022.
Are there complaints against Indiabulls Heights?
HRERA lists six complaint and monitoring cases against registration 160(A) of 2017, filed between 2019 and 2026. Before continuing the registration, HRERA also imposed a ₹25 lakh penalty for violating sections 3 and 4 of the RERA Act.
Who is the developer of Indiabulls Heights?
The promoters on the RERA certificate are Juventus Estate Ltd, the licence holder, and Indiabulls Nests Ltd, the joint development rights holder. Both belong to the Indiabulls Ltd group, not the former Indiabulls Real Estate (now Embassy Developments).
How far is Indiabulls Heights from the airport?
IGI Airport Terminal 3 is about 23.5 km by road from Sector 104. The brochure claims 15 minutes.
What should I check before booking?
Ask for these in writing: the all-inclusive carpet-area price, where the service plan and environmental clearance approvals stand, the name of the existing lender and the amount owed, which company signs your agreement, and how the 2017-2019 bookings are being dealt with.