gurgaon a new developer has taken over a stalled luxury residential project on golf course road thus offering huge relief to 272 buyers who had been living in uncertainty about getting their homes for the past four years launched in 2016 construction at the project site stopped after two years due to lack of fundstoi has learnt that the department of town and country planning dtcp has approved the takeover of aarohan the luxury residential project spread across 19 acres of land on golf course road by citybased tulip infratech from vipul limited its original developer and tulip now plans to develop an ultraluxury residential project with over 1000 units and has promised to complete phase 1 390 units by 2026the project would bring relief to several distresse buyers as it involves completion of around 270 stuck homes said parveen jain chairman and md of tulip infratech the company plans to invest rs 3000 crore in the next five years to revive the project as an ultrahighend residential project and two stateoftheart commercial buildingstulip has also made it clear that these 272 homebuyers wont be charged any extra money for their apartments for the 272 homebuyers who had booked the units with the original developer will be accommodated and they do not need to pay more these buyers will be provided their units as per the original price and not the current price said a company spokespersonhomebuyers heaved a sigh of relief we have been waiting for our houses for many years we are now hopeful that we will get our homes within the newly fixed deadline apart from this the project is now being made more luxurious than before which is even better vikas bali president of vipul aarohan residences a group formed by the aggrieved buyers told toia real estate consultant said delhincr may see more such deals as some developers are willing to take over stuck projects as it will be beneficial for both the parties as well as the lender there are many developers in delhincr who are facing funds crunch they are open to tieups with other realtors for the completion of their projects he said