Oberoi Realty Marks Its NCR Entry With Flagship Sector 58 Launch
For over four decades, Oberoi Realty's story has been written almost entirely in the skyline of Mumbai. That chapter has now turned. The developer has stepped into the Delhi-NCR market for the first time, choosing Gurugram's Sector 58 on Golf Course Extension Road as the setting for its debut outside the Mumbai Metropolitan Region. The company unveiled the first phase of its premium housing project, 'Three Sixty North', marking its first residential development outside the Mumbai Metropolitan Region.
The scale of the ambition matches the weight of the moment. Oberoi Realty has entered the Delhi-NCR property market with an investment of around Rs 6,000 crore in a development that has an estimated revenue potential of Rs 16,000 crore. The land itself has a longer backstory — in November 2023, Oberoi Realty debuted in the NCR market by acquiring a 14.81-acre land parcel in Gurgaon for ₹597 crore. That patient groundwork has now culminated in a launch that industry watchers are calling one of the most significant of the year.
Speaking at the launch, Chairman and Managing Director Vikas Oberoi did not mince words about the intent behind the move. "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. He went further, describing the moment in terms that place it firmly within the company's larger growth story: "Entry into the NCR market marks an important milestone in our growth journey and reflects our long-term vision of building distinctive developments in India's leading markets."
The project itself borrows its design philosophy from familiar territory. Inspired by Oberoi Realty's flagship Three Sixty West in Mumbai, Three Sixty North is spread over 14.8 acres in Sector 58 on Golf Course Extension Road. The project, spread over 14.8 acres, will be developed in two phases and comprise 832 apartments across six towers, with a total saleable area estimated at 4.5 million square feet. While the first phase consists of six residential towers, the overall development will eventually comprise seven towers. The residences on offer skew decisively toward the ultra-luxury end of the market: Phase 1 offers residences in 3 BHK + Studio, 4 BHK + Studio, Duplex and Penthouse configurations, ranging from approximately 5,500 sq ft to over 13,000 sq ft in saleable area, with prices starting from Rs 18 crore onwards, plus applicable taxes.
The master plan reflects the resort-style living Oberoi's Mumbai projects are known for. The master plan includes landscaped gardens, a signature clubhouse and a curated high-street retail boulevard. The company has launched the first phase at a basic selling price of Rs 35,000 per sq ft, with prices for the luxury residences starting at Rs 19 crore for a bare-shell apartment, while penthouses are priced at around Rs 65 crore.
What has followed the launch has surprised even seasoned market observers. Oberoi Realty's entry into the Delhi-NCR residential market clocked ₹8,109 crore in bookings for its first luxury housing project in Gurugram within days of its launch, selling 13.52 lakh sq ft of RERA carpet area, equivalent to 23.10 lakh sq ft of saleable area, at Three Sixty North. Against a total revenue potential of ₹16,000 crore across two phases, bookings of ₹8,109 crore mean Oberoi Realty has already achieved around 51% of the project's estimated revenue potential.
The timing of the launch is no accident. The robust response reflects the continued demand for luxury homes in Gurugram, where premium residential projects have witnessed strong buyer interest over the past two years, driven by high-net-worth individuals, entrepreneurs, senior professionals and non-resident Indians seeking large-format homes. The project is targeted at entrepreneurs, business owners, CXOs, global Indians, NRIs and ultra-high-net-worth homebuyers looking for luxury residences in Gurugram. Oberoi himself was candid about competing in an already crowded luxury field: "We are here in the NCR market to build the best product. We do not fear competition," Oberoi said.
For homebuyers, the entry of a developer with Oberoi Realty's Mumbai pedigree into Gurugram is significant beyond one project. Oberoi Realty has so far focused primarily on the Mumbai Metropolitan Region, where it has developed premium residential, commercial, retail and hospitality assets, delivering 51 projects spanning 17.3 million square feet over the past four decades, while another 34 million square feet is currently under development. That track record of execution is precisely what buyers weighing a Rs 18-crore-plus purchase in an unfamiliar market will be watching closely as construction on Three Sixty North progresses.
