Oberoi Realty's Landmark Foray Into Gurugram: The Story So Far
For nearly three decades, the Oberoi name has been synonymous with a very particular kind of address in Mumbai — one where architectural restraint meets uncompromising craft, and where a handful of towers can redraw the skyline of an entire neighbourhood. For just as long, the company kept its ambitions firmly rooted within the Mumbai Metropolitan Region, resisting the pull of Delhi-NCR even as rival developers rushed to plant flags along Gurugram's golf courses and expressways. That restraint ended in November 2023, in a moment that would prove to be one of the more consequential land deals in recent Indian real estate history.
The story began quietly, in the language of a stock exchange filing. In an exchange filing, Oberoi Realty said it has executed an agreement for sale with Ireo Residences Company and others for acquiring land admeasuring approximately 14.8 acres at Sector 58, Gurugram, Haryana. The consideration for the transaction is in the form of event/time linked monetary consideration of upto Rs 597 crore, and upto a certain area in the project for the existing homeowners and others. The company's entitlement from the project at full potential is presently estimated to be upto ~2.6 million sq ft of floor area ratio (FAR), the company said. Markets responded almost instantly — shares of Oberoi Realty hit a new high of Rs 1,407, rallying 5 per cent on the BSE after the company said it bought near about 15-acre land in Gurugram for Rs 597 crore to develop a luxury housing project. With the acquisition of land, the realty firm made its foray into the Delhi-National Capital Region property market.
From the outset, the ambition attached to the parcel was unmistakable. The prime land near Sector 58, near the Gurugram Golf Course Extension Road, was earmarked for a luxury residential project marking a significant move for Oberoi Realty's launch in one of India's most dynamic real estate markets. The upcoming project in Sector 58 was designed based on the same principles as Oberoi Realty's prestigious Mumbai development, Three Sixty West. Chairman and Managing Director Vikas Oberoi described the philosophy in characteristically understated terms during an investor call, noting that the Gurugram project would be a smaller sibling of Three Sixty West but would carry the same high-luxury, design-led sensibility that defines the brand.
The wait between acquisition and launch stretched over two and a half years, a period during which approvals were secured methodically rather than hurried. The company confirmed that the project in Sector 58 was progressing well with regulatory approvals, with Oberoi noting that several approvals had come through recently and the rest were also falling in place. That patience paid off on June 29, 2026, when Oberoi Realty formally unveiled the project to the market. Oberoi Realty launched Three Sixty North, an ultra-luxury residential project in Gurugram's Sector 58, spread across 14.8 acres, offering expansive homes with prices beginning at Rs 18 crore. The company launched the first phase comprising 832 units across six towers at a basic selling price of Rs 35,000 per sq ft.
The scale of the undertaking became clearer with the financial disclosures that followed. The company announced its foray into the Delhi-NCR market with the launch of its first luxury housing project with a total investment of ₹6,000 crore and a revenue potential of ₹16,000 crore. What happened next surprised even seasoned market watchers. In a regulatory filing, Oberoi Realty said it had recorded gross bookings of approximately ₹8,109 crore at Three Sixty North, its first luxury residential development in the NCR, having sold 13.52 lakh sq ft of RERA carpet area — 23.10 lakh sq ft of saleable area — in the 14.8-acre project. It was, by most measures, one of the strongest launch weekends recorded anywhere in the country's luxury housing segment in recent years.
Much of the appeal lies in the address itself. Golf Course Extension Road has emerged as one of NCR's fastest-appreciating real estate corridors, with capital values rising steadily on the back of strong end-user demand, improving infrastructure, and a surge in Grade-A commercial development in neighbouring sectors. Vikas Oberoi framed the entry as more than a single project launch. He said the company's entry into the National Capital Region market marks an important milestone in its growth journey, reflecting a long-term vision to build distinctive developments in leading Indian markets. Noting the company's track record of creating landmark addresses in Mumbai, he said the Gurugram project brings this same philosophy through design-led development.
Inside the gates, the development is conceived as a self-contained world. The project includes Club Three Sixty North, offering spaces for wellness, fitness, recreation, and social engagement, alongside a boulevard with curated retail, cafés, and landscaped plazas. The company expects Three Sixty North to appeal to entrepreneurs, business leaders, global Indians, and homebuyers seeking an exclusive address in Gurugram. It is a positioning that mirrors the language long used for Three Sixty West in Worli — a project where apartment prices have reportedly reached approximately ₹1.50 lakh per square foot, and one that Oberoi has openly cited as the design and lifestyle template for its NCR debut.
For homebuyers watching Gurugram's luxury segment, the entry of Oberoi Realty adds a new benchmark to a market already crowded with premium names. The developer has delivered 51 real estate projects to date, representing 17.3 million sq ft of completed space, while more than 34 million sq ft is under construction — a portfolio that lends considerable credibility to its NCR ambitions. With Three Sixty North's first phase already substantially booked, industry attention now turns to the project's later phases and to whether Oberoi Realty will pursue further land parcels in the capital region, a question the company has so far kept deliberately open.
