Anhad Realty and Anhad Minerario have signed an agreement to acquire the entire shareholding of Fidato City Homes Pvt Ltd, the developer of the stalled Trinity Sky Palazzo housing project in Gurugram, in a move that could pave the way for the revival of a delayed luxury residential development affecting hundreds of homebuyers, the company said.
The proposed acquisition, announced through a public notice, involves the transfer of 100 percent ownership of Fidato City Homes along with all obligations towards homebuyers registered with the Haryana Real Estate Regulatory Authority (HARERA) and farmers and landowners associated with the project.
Spread across 11 acres in Sector 88B, Gurugram, the project has an estimated development value of around Rs 1,200 crore. Fidato City Homes Pvt Ltd. had launched Trinity Sky Palazzo.
Although residential units were sold after launch, construction at the site came to a halt, leaving buyers awaiting possession for an extended period. The project also witnessed disputes involving landowners over alleged non-payment of dues.
“The acquisition is not just about taking over a project. Our immediate priority is to restore the confidence of homebuyers and landowners by restarting construction at the earliest and completing the project within committed timelines,” Amit Sharma, associated with Anhad Developers, said.
He added that the company would focus on transparency, accountability and timely delivery to ensure genuine buyers receive possession without further delays.
Industry observers said the transaction reflects a growing trend of financially stronger developers acquiring stalled housing projects to unlock value and resolve long-pending issues faced by homebuyers.
According to the company, Anhad Developers currently has a development pipeline of about Rs 7,000 crore across multiple projects in the Delhi-NCR region. If regulatory and procedural formalities are completed, the acquisition is expected to facilitate the resumption of construction after a prolonged halt, offering relief to affected homebuyers and landowners.
Source: Moneycontrol
