Oberoi Realty Arrives in Gurugram

After four decades of shaping some of Mumbai's most celebrated skylines, Oberoi Realty has finally stepped beyond the Mumbai Metropolitan Region. Mumbai-based Oberoi Realty Ltd has entered the Delhi-NCR property market with the launch of a luxury residential project in Gurugram, committing an investment of around Rs 6,000 crore in a development that has an estimated revenue potential of Rs 16,000 crore. The company on Monday unveiled the first phase of its premium housing project, 'Three Sixty North', located in Sector 58 on Golf Course Extension Road in Gurugram, marking its first residential development outside the Mumbai Metropolitan Region (MMR).

The seeds of this move were sown nearly three years earlier. In November 2023, Mumbai-based real estate giant Oberoi Realty debuted in the National Capital Region (NCR) market by acquiring a 14.81-acre land parcel in Gurgaon for ₹597 crore. The land was acquired in November 2023, and the selling deed was completed on May 7, 2024. The prime land, situated in sector 58 near Gurugram's Southern Peripheral Road (SPR), is already renowned for its upscale residential developments, making it a strategic choice for Oberoi Realty's debut in the Delhi NCR real estate landscape.

The scale of the development reflects Oberoi's ambitions in the region. The project, spread over 14.8 acres, will be developed in two phases and comprise 832 apartments across six towers. The total saleable area is estimated at 4.5 million square feet, while the total project cost is expected to be around Rs 6,000 crore. The development will eventually comprise seven residential towers, and fittingly, the project is inspired by Oberoi Realty's flagship Three Sixty West in Mumbai, one of India's best-known luxury residential developments.

Pricing reflects the ultra-luxury positioning of the launch. The company launched the first phase at a basic selling price of ₹35,000 per sq ft, and the cost per apartment starts from ₹18 crore. The residences themselves are built for scale: homes come as 4 BHK of 5,600 sq.ft and 5 BHK of 8,500 sq.ft, with just one home per floor, 13-foot ceilings and deep balconies, positioning the project firmly among Gurugram's most spacious luxury addresses.

Buyer response to the launch has been striking. Mumbai-based Oberoi Realty has sold luxury homes worth ₹8,109 crore in its newly-launched project in Gurugram on strong consumer demand, with the company selling 13.52 lakh sq ft of RERA carpet area (23.10 lakh sq ft of saleable area) in this 14.8 acre project. Few debut launches in the NCR luxury segment have posted numbers of this magnitude in their opening phase.

Speaking about the milestone, Oberoi Realty Chairman and Managing Director Vikas Oberoi struck a confident tone. "We are launching our first project in Delhi-NCR. We feel confident now that our brand is transportable to the NCR market," he said at a press conference in Gurugram. He was equally direct about the company's intent in a market already crowded with established names: "We are here in the NCR market to build the best product. We do not fear competition," Oberoi said.

The timing of the entry aligns with a broader boom in Gurugram's high-end residential market. According to the latest High-End Luxury Housing Report by India Sotheby's International Realty (ISIR) and CRE Matrix, Gurugram has become India's fastest-growing high-end residential market after achieving sales of homes worth Rs 10 crore and above, which reached Rs 24,120 crore during 2025. The city recorded 1,494 ultra-luxury homes changing hands last year, signifying a nearly 10 times growth compared to the mere 155 properties sold in 2023. Industry experts see the timing as no coincidence — analysts like Ritesh Mehta of JLL India have noted that the combination of rising demand, urban migration, and infrastructure projects like the Dwarka Expressway is creating favourable conditions for well-capitalized developers entering the region.

On the regulatory and construction front, the project has moved quickly toward execution. The branded residences carry the Grand Hyatt name, making this Gurgaon's first internationally hotel-branded luxury condominium on Golf Course Extension Road, while Larsen & Toubro has been engaged for the construction of the seven high-rise residential towers. For homebuyers evaluating Gurugram's luxury market, Oberoi Realty's arrival adds a Mumbai-tested, execution-focused name to a corridor that is fast becoming one of North India's most closely watched addresses.