Oberoi Realty's ₹8,109 Crore Gurugram Launch Signals a New Chapter Beyond Mumbai
For four decades, the Oberoi name was written almost exclusively into Mumbai's skyline. That changed this summer when the developer stepped into the Delhi-NCR market for the first time, and the market answered with a number that few launches in the country's history have matched. Oberoi Realty announced gross bookings of approximately ₹8,109 crore at its luxury residential development, Three Sixty North, located in Gurugram, marking a significant milestone as the company's first luxury residential project in the National Capital Region.
The scale of the response becomes clearer when set against the physical footprint of what has actually been sold. The project has recorded bookings for approximately 13.52 lakh square feet of RERA carpet area, which translates to 23.10 lakh square feet of saleable area. Situated on a sprawling 14.8-acre plot on Golf Course Extension Road, Sector 58, Gurugram, Three Sixty North is designed to redefine luxury living in the NCR. The masterplan itself is ambitious in scope: the development will feature seven residential towers, extensive landscaped open spaces, Club Three Sixty North, and a curated boulevard with retail outlets and cafés, offering a comprehensive lifestyle experience.
The project was unveiled with unmistakable intent. Drawing inspiration from Three Sixty West in Mumbai, Three Sixty North embodies Oberoi Realty's vision for the future of ultra-luxury living. That lineage matters to buyers who already know the Worli address by reputation; the Three Sixty West project in Mumbai's Worli overlooks the Arabian Sea and counts several celebrities as its residents. Pricing has been positioned firmly at the top end of the Gurugram market. Launched at Rs 35,000 per square feet excluding GST and other charges, the price of a bare shell apartment starts from Rs 19 crore and goes up to Rs 60 crore, depending on area. The first phase itself is compact by intent: phase one comprises 432 residences across six towers, while the overall master plan will include seven towers with the seventh to be launched in phase two.
Chairman and Managing Director Vikas Oberoi framed the launch as a philosophical statement as much as a commercial one. He said the overwhelming response to Three Sixty North reflects the strength of the development and the trust that customers have placed in Oberoi Realty over the past four decades, adding that the entry into the NCR marks an important milestone driven by philosophy rather than geography, since growth is a by-product and the product has to be right first. He was equally candid about how the company intends to pace sales going forward. "All our projects get sold within the time we build them, and that's the pace we typically keep. We are new to the NCR market, where launches are a big thing. We want to see how this plays out," he said, adding that the strategy is not to sell out but to slip into the market, noting it took four decades to get out of the Mumbai Metropolitan Region.
The financial architecture behind the launch reveals just how large Oberoi Realty is betting on Gurugram. The total revenue potential for the entire project is Rs 16,000 crore at the prices at which it launched, Vikas Oberoi told reporters at a press conference on the sidelines of the launch. The project is being developed with an estimated investment of ₹6,000 crore across two phases. This is not a one-off foray either. The billionaire real estate tycoon is bullish on Delhi-NCR's realty market, saying the company is looking for more land parcels in Gurgaon, sees potential, and wants its Gurgaon business to be as big as Mumbai. That intent has since been backed by disclosure to the street: beyond its core presence in the Mumbai Metropolitan Region, Oberoi Realty is actively pursuing growth in the Delhi NCR market, and having recently entered Gurugram, the company is evaluating further land acquisition and development prospects in both Gurugram and Noida.
The booking haul also arrives against the backdrop of a developer whose balance sheet gives it room to expand aggressively. Oberoi Realty has delivered 17.3 million square feet in the Mumbai Metropolitan Region over four decades and has more than 34 million square feet under construction, underscoring its expansion beyond its home market. Analysts covering the stock have flagged that the developer is not resting on the Gurugram number alone. Oberoi Realty plans to launch several residential projects across Mumbai, Thane, and Alibaug this fiscal year, focusing on luxury redevelopments and new towers to drive growth after reporting a strong Q1 FY27 net profit. In Mumbai, the pipeline includes the redevelopment of two residential societies on Pedder Road, while the expansion in Thane involves adding two new residential towers in the Kolshet area.
For prospective buyers watching from the sidelines, the Three Sixty North story carries a practical lesson about how Oberoi Realty operates in a new market: cautiously priced at the very top, deliberately paced rather than flooded with inventory, and backed by a brand that has, for the most part, delivered on its Mumbai promises for four decades. The strong response marks the company's successful entry into Gurugram, one of India's fastest-growing housing markets, giving the Mumbai-based developer a solid start as it looks to expand beyond its established presence in western India. Whether the remaining inventory across phase one and the eventual phase two towers moves at the same pace will be the real test of whether this launch-week number becomes a lasting trend or a one-time headline.
