The Flatts is situated on the northern side touching the lake and is the very popular tourism spot where the worst landslip occurred in 1880. This place lies at the foothills of Alma Hill and where the Victorian Hotel, Bells' Shop and Naina Devi Temple were situated that succumbed to the landslide. Though the Naina Devi Temple was reconstructed in 1883, the others were not rebuilt but instead that area was flattened and cemented and thus the name 'Flatts' was derived. It was made in honour of the 151 people who lost their lives here.
The Flatts is now a recreational area which gets very crowded in the evenings especially filled with young people and sports enthusiasts. Some even visit to watch the sports being played here and during cultural fairs and festivals, this place comes alive with many activities that include games of Cricket, Hockey, Basketball, volleyball, Badminton, Throw Ball and Boxing tournaments held every year. People also enjoy eating Chaat made of fried potatoes mixed with hot mixed spices in the Chaat Bazaar.
The Statue of Pt. Govind-Ballabh Pant is seen erected here with a beautiful fountain. Beside is a bus stand and the Bhutia Market or Tibetan Market where you can buy all types of items from clothes, bags, perfumes, watches and many more. Surrounding this area is the famous Naina Devi Temple, a Mosque made of white and green coloured bricks and a Gurudwara that symbolises the unity and secularism of the town. The Capitol cinema theatre and Rink theatre are located in the Flatts used for Roller skating and another portion of it is also used as a parking area for vehicles. The Nainital Boat Club, New club, and Masonic Hall are all lined next to the Flatts.