After Four Decades in Mumbai, Oberoi Realty Finally Comes to Gurugram
There is a certain poetry in the way a builder chooses its first step beyond home ground, and for Oberoi Realty, that step has landed on Golf Course Extension Road in Sector 58, Gurugram. The company 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. For a developer that has spent its entire history shaping one city's skyline, this is no small departure. As Chairman and Managing Director Vikas Oberoi put it at the launch, "We are launching our first project in Delhi-NCR. We feel confident now that our brand is transportable to the NCR market."
The numbers behind the announcement are considerable. 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 and a total project cost of around Rs 6,000 crore. Vikas Oberoi told reporters at the launch that the total revenue potential for the entire project is Rs 16,000 crore at the prices launched. This is not a modest toe in the water; it is a declaration of intent for a market the developer has watched from a distance for years.
The land itself carries its own history. For years, a string of unfinished towers on Golf Course Extension Road, originally developed by the beleaguered Ireo Group and designed by British architect Norman Foster, stood incomplete on the 14.8-acre site before Oberoi Realty began demolishing them floor by floor to make way for its own vision. Oberoi Realty had purchased the land parcel from Gurugram-based Ireo Group for Rs 597 crore in 2023, quietly laying the groundwork for an entry that would take nearly two years to reach the market.
Pricing reflects the ultra-luxury positioning the Oberoi name commands in Mumbai. The company 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. The developer is offering 3 BHK plus Studio, 4 BHK plus Studio, duplex and penthouse configurations ranging from around 5,500 sq. ft. to over 13,000 sq. ft. in saleable area. The design language borrows unmistakably from the developer's Mumbai legacy. The project is inspired by Oberoi Realty's flagship Three Sixty West in Mumbai, one of India's best-known luxury residential developments.
What makes this launch notable beyond the price tag is the developer's own restraint. Unlike the aggressive pre-launch marketing common in NCR, Vikas Oberoi has been candid about taking a measured approach. Oberoi Realty is not expecting to sell out all its inventory in one go, something commonly advertised on billboards in NCR. "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," said Oberoi. He was equally direct about his ambitions for the region going forward. "We are looking for more land parcels in Gurgaon. We see potential. We love the market," Oberoi said, adding, "We want our Gurgaon business to be as big as Mumbai."
The early market response has been striking. Within days of launch, brokerage reports indicated the project had already crossed Rs 8,000 crore in bookings, with sources noting Oberoi Realty's first NCR project clocks ₹8,109 crore in bookings, a figure that underlines how deep the appetite for branded luxury runs in Gurugram right now.
No launch of this scale arrives without scrutiny, however. Days after the Rs 6,000 crore launch, the Punjab and Haryana High Court ordered the developer not to make fresh allotments of apartments until Haryana's Department of Town and Country Planning decides a pending complaint filed by local developer Advance India Projects Ltd (AIPL). In an order dated July 7, the court directed the Director of Town and Country Planning, Haryana, to decide AIPL's complaint on July 20 after hearing all stakeholders. Oberoi Realty has stated it will pursue appropriate legal recourse, and prospective buyers would do well to track this development before finalising bookings.
For homebuyers weighing this launch, the appeal lies less in immediate possession timelines and more in the promise of a developer known for delivering on design and quality over four decades. Oberoi Realty has delivered 51 projects covering approximately 17.3 million square feet across the Mumbai Metropolitan Region, with more than 34 million square feet currently under various stages of development. Three Sixty North now becomes the first test of whether that Mumbai discipline translates to the different rhythms, regulations, and expectations of the Delhi-NCR market.
