Why Oberoi Realty Chose Golf Course Extension Road for Its NCR Debut
For nearly four decades, Oberoi Realty built its story within the boundaries of Mumbai, one skyline at a time. So when the developer finally chose to look beyond the Mumbai Metropolitan Region, the choice of address mattered as much as the decision itself. 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. It is a quiet but deliberate statement: after 51 projects and 17.3 million square feet delivered in Mumbai alone, Oberoi was ready to test its brand in unfamiliar soil.
The story of how this land came to belong to Oberoi began earlier, in the closing months of 2023. In November 2023, Mumbai-based real estate giant Oberoi Realty debuted in the National Capital Region market by acquiring a 14.81-acre land parcel in Gurgaon for ₹597 crore, near Sector 58, near the Gurugram Golf Course Extension Road. The transaction was completed in stages. The prime land, situated in sector 58 near Gurugram's Southern Peripheral Road, is already renowned for its upscale residential developments, and the company finalized the purchase through a sale deed executed on May 7, 2024, following the initial acquisition in November 2023. Oberoi Realty's acquisition came from a consortium including Ireo Residences and other firms, further cementing its strategic intent to establish a formidable presence in the NCR market.
Why this particular stretch of road, and not Dwarka Expressway or New Gurgaon, where land has historically come cheaper? The answer lies in what Golf Course Extension Road has quietly become over the past decade. The corridor has emerged as one of NCR's fastest-appreciating real estate stretches, 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, making it a natural choice for investors and owner-occupiers alike. Connectivity sealed the argument. Residents benefit from direct access to NH-48 and Sohna Road, placing Delhi and Manesar within easy reach, while corporate powerhouses like Cyber City and Udyog Vihar are just minutes away.
Oberoi Realty's own leadership has been candid about the template it intends to follow. In April 2025, Vikas Oberoi announced that the company would develop a high-end luxury project in sector 58, Golf Course Extension Road, Gurugram, describing it as similar to what the company does in Mumbai, perhaps a smaller version of Three Sixty West, high-end, high-quality, and very well designed. That reference point, Three Sixty West in Worli, is no small comparison; it remains one of the most recognisable luxury addresses in Mumbai's skyline, and its DNA is now being transplanted, quite literally, into Gurugram's Three Sixty North.
The scale of what has been built on this land reflects that ambition. The company has launched the first phase of its housing project, comprising 832 units across six towers, and has sold 13.52 lakh sq ft of RERA carpet area in this 14.8 acre project. Oberoi Realty committed an investment of around Rs 6,000 crore into a development with an estimated revenue potential of Rs 16,000 crore. Homes here are unusually large by Gurugram standards, with apartment sizes ranging from 5,600 to 8,500 square feet, suggesting Oberoi is not trying to maximise unit count but is going for fewer, larger homes, meaning a more exclusive community and a different kind of buyer. The company launched the first phase at a basic selling price of Rs 35,000 per sq ft, with the cost per apartment starting from Rs 18 crore.
The market's response arrived almost as quickly as the launch itself. In a regulatory filing, Oberoi Realty said that it has recorded gross bookings of approximately Rs 8,109 crore at 'Three Sixty North', its first luxury residential development in the NCR. At the launch event in Gurugram, Chairman and Managing Director Vikas Oberoi made the company's confidence plain: "We feel confident now that our brand is transportable to the NCR market," Oberoi Realty CMD Vikas Oberoi had said on June 29 at a press conference in Gurugram. On competition from entrenched NCR names, he was equally direct: "We are here in the NCR market to build the best product. We do not fear competition," Oberoi said.
For homebuyers watching Golf Course Extension Road, the arrival of a Mumbai-bred developer of this stature is not a small footnote. For existing homeowners on Golf Course Extension Road, this kind of entry typically has a positive effect on property values in the surrounding micro-market, and for buyers still deciding between projects in this corridor, it adds a credible new option with a different brand story than what was available before. Whether Three Sixty North comes to be spoken of in the same breath as Three Sixty West will depend on execution over the coming years, but the intent, and the address chosen to prove it, could hardly be more considered.
