Oberoi Realty Crosses the Mumbai Border, Lands in Gurugram

For nearly four decades, Oberoi Realty's name has been etched into Mumbai's skyline, a developer whose towers along Worli, Goregaon and Thane came to define a certain idea of considered, unhurried luxury. That story has now stepped beyond the Mumbai Metropolitan Region for the first time. With the launch of Three Sixty North in Gurugram's Sector 58, on the increasingly coveted Golf Course Extension Road, the Mumbai-based developer has made its long-awaited entry into the National Capital Region, and it has done so with characteristic scale and ambition.

The numbers alone tell a story of intent. 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 first phase comprises 832 apartments across six towers, with prices starting at INR 19 crore. Starting price: ₹18 crore (plus taxes) according to the company's exchange filing. The homes have been introduced at a base selling price of INR 35,000 per sq ft.

There is a certain poetry to the land itself. For years, a string of unfinished towers on Gurugram's Golf Course Extension Road stood out like a sore thumb in the Millennium City's gleaming skyline, developed by beleaguered Ireo Group and designed by renowned British architect Norman Foster, spread across 14.8 acres, and now being demolished floor-by-floor by Mumbai-based Oberoi Realty as it forays into the National Capital Region. Oberoi Realty had purchased the 14.8-acre land parcel on which it plans to build 'Three Sixty North' from Gurugram-based Ireo Group for Rs 597 crore in 2023. Where an ambitious project once stalled, Oberoi Realty is now building anew.

The project draws its name and its inspiration from the developer's most celebrated Mumbai address. The project is inspired by Oberoi Realty's flagship Three Sixty West in Mumbai, one of India's best-known luxury residential developments. The Three Sixty West project in Mumbai's Worli overlooks the Arabian Sea and counts several celebrities as its residents. In Gurugram, the homes are similarly generous in scale: the project offers spacious studio-integrated residences, duplexes, and penthouses with contemporary architecture, premium specifications, landscaped open spaces, and thoughtfully designed lifestyle amenities. Three Sixty North brings Oberoi Realty's Mumbai standards to Sector 58: 4 and 5 BHK homes of 5,600 to 8,500 sq.ft, one per floor, with 13-foot ceilings, private lifts and deep balconies.

Lifestyle amenities have been designed to match the scale of the homes. A defining feature of the development is Club Three Sixty North, which provides spaces for wellness, fitness, recreation, and social engagement, while the Boulevard includes curated retail, cafés, and landscaped plazas. These amenities are designed to create a dynamic lifestyle destination that integrates convenience and leisure within the development.

Chairman and Managing Director Vikas Oberoi has been candid about both the confidence and the caution behind this move. Speaking at the launch event in Gurugram, he said, "We are launching our first project in Delhi-NCR. We feel confident now that our brand is transportable to the NCR market." On strategy, he was equally direct: "The strategy is not to sell out but to slip into the market. We took four decades to get out of the Mumbai Metropolitan Region," he added. He also struck an ambitious note on the scale he envisions, telling reporters "We want Gurugram business as big as Mumbai."

The launch has not been without turbulence. Days after the foray into Gurugram, the Punjab and Haryana High Court ordered the developer not to make fresh allotments of apartments to homebuyers until Haryana's Department of Town and Country Planning decides a pending complaint filed by local developer Advance India Projects Ltd, on a writ petition filed by AIPL against the Director, DTCP Haryana. Oberoi Realty has moved to reassure existing and prospective buyers on this front. The company clarified that the order does not impact any existing sales already concluded and that there is no stay on the construction of the project, while stating it will pursue the necessary legal course of action as advised by professional legal counsel.

For buyers watching this space, the trajectory suggests more is coming. Oberoi Realty has announced plans to launch the second phase of its flagship Gurugram project, Three Sixty North, next year, a decision that follows the encouraging response received during the first phase and reflects the company's confidence in Gurugram's fast-growing luxury housing market. Backing this ambition is a track record built over decades: Oberoi Realty has delivered 51 projects covering approximately 17.3 million square feet across the Mumbai Metropolitan Region over the past four decades, and currently has more than 34 million square feet under various stages of development.