Anhad Realty Pvt. Ltd. and Anhad Minerario Pvt. Ltd. have announced the proposed acquisition of 100% shareholding in Fidato City Homes Pvt. Ltd., a move aimed at reviving the stalled Trinity Sky Palazzo residential project in Sector 88B, Gurugram.
The project, with an estimated development value of around ₹1,200 crore, has remained stalled for an extended period, impacting hundreds of homebuyers and landowners associated with the development. The acquisition is expected to facilitate the resumption of construction and address pending commitments to stakeholders.
According to the companies, the transaction follows several months of negotiations with representatives of the existing promoters. The proposed acquisition includes the assumption of project-related responsibilities towards RERA-registered homebuyers and landowners connected to the development.
A spokesperson for Anhad Realty said the company’s objective is to restore confidence among homebuyers, investors and landowners while ensuring the project’s completion through transparent and accountable execution. The company added that it plans to work closely with stakeholders and regulatory authorities to restart construction and deliver the project within committed timelines.
The Trinity Sky Palazzo project was launched after obtaining the required approvals and registrations under the Haryana Real Estate Regulatory Authority (HRERA). However, construction activity subsequently stalled, leading to prolonged uncertainty for buyers and landowners.
The proposed acquisition has been welcomed by affected stakeholders, many of whom have been awaiting progress on the project for several years. Industry observers note that the transaction reflects a growing trend of stressed real estate assets being acquired by new developers to unlock value and restore buyer confidence.
Subject to completion of the acquisition process and regulatory requirements, the project’s revival is expected to provide a significant boost to the local residential market while offering relief to homebuyers awaiting delivery of their homes.
