Oberoi Realty Enters Gurugram: Inside the Rs 6,000 Crore Three Sixty North Story
For four decades, the name Oberoi Realty was synonymous with a single skyline: Mumbai's. The developer built its reputation, brick by careful brick, across fifty-one projects in the Mumbai Metropolitan Region, never once venturing beyond the sea-facing city it called home. That changed this summer, when Oberoi Realty announced its foray into the National Capital Region with an ultra-luxury residential project in Sector 58, Gurugram, called Three Sixty North, backed by an investment of roughly Rs 6,000 crore.
The land itself has a longer history. Oberoi Realty had quietly acquired the 14.8-acre parcel on Golf Course Extension Road back in November 2023, paying Rs 597 crore to Ireo Residences Company for what was then an unfinished project once envisioned as Grand Hyatt Residences. It took over two and a half years of planning, design, and regulatory groundwork before the company was ready to formally launch. When it finally did, on June 29, 2026, the announcement carried the unmistakable signature of the Oberoi playbook: understated scale, maximal ambition.
Three Sixty North borrows its DNA directly from Three Sixty West, Oberoi's flagship in Worli that remains one of Mumbai's most recognisable luxury addresses. The Gurugram development will eventually rise as seven residential towers set amid landscaped gardens, a dedicated clubhouse called Club Three Sixty North, and a retail boulevard with cafés. Phase one alone comprises more than 800 residences spread across six towers, offering 3 BHK and 4 BHK configurations with studios, along with duplexes and penthouses. Unit sizes range from around 5,500 square feet to over 13,000 square feet, and prices start at Rs 18 crore plus applicable taxes, positioning the project firmly among the most expensive in the entire NCR market.
Speaking at the launch, Vikas Oberoi, Chairman and Managing Director, did not mince words about his ambitions for the region. "We want our Gurgaon business to be as big as Mumbai," he told reporters, adding that the company is actively scouting for more land in the city because it sees genuine long-term potential in the market. He was equally candid about the cultural gap between the two markets — pointing out that Mumbai's land economics force developers to sweat every square foot, whereas Gurugram is still finding its footing on that front even as prices rise.
The market's response to the launch was extraordinary by any measure. Within roughly a week, Oberoi Realty reported gross bookings of approximately Rs 8,109 crore for Three Sixty North, accounting for around 13.52 lakh square feet of RERA carpet area — more than half of the project's total estimated revenue potential of Rs 16,000 crore across both phases. For a developer making its very first NCR launch, competing directly with entrenched giants like DLF along the same Golf Course Extension corridor, the numbers signalled that the Oberoi brand's pull extends well beyond Mumbai's city limits.
The euphoria was tempered just over a week later. On July 7, 2026, the Punjab and Haryana High Court passed an interim order restraining Oberoi Realty from making fresh allotments or creating third-party rights in Three Sixty North, pending a decision by Haryana's Department of Town and Country Planning on a complaint filed by rival developer Advance India Projects Ltd, which had alleged irregularities including possible violations of foreign investment norms tied to the project's original licence. The court directed DTCP to resolve the matter by July 20, 2026, and was careful to note that the interests of existing and prospective homebuyers should guide the decision.
Oberoi Realty moved quickly to reassure the market. In a clarification filed with stock exchanges, the company stated that the order affects only new allotments going forward and does not disturb sales already concluded, nor does it halt ongoing construction. The company also said it would pursue appropriate legal recourse on the advice of counsel. Shares dipped briefly on the news before recovering the same day, reflecting investor confidence that the underlying demand and project fundamentals remain intact even as the legal question plays out.
For homebuyers watching from the sidelines, the episode is a useful reminder that even flagship launches from India's most trusted developers can carry near-term regulatory friction — particularly when land parcels change hands multiple times before reaching their final owner, as was the case here with the earlier Ireo-AIPL history. What has not wavered is the scale of intent: Oberoi Realty has signalled, through both capital commitment and public statements, that Gurugram is not a one-project experiment but the opening chapter of a much longer NCR growth story.
