Three Sixty North Phase 2: The Next Chapter Begins

There is a particular kind of confidence that comes from selling out an entire first phase of ultra-luxury apartments in a market you have never entered before, and Oberoi Realty is now carrying that confidence into its next move. Oberoi Realty is preparing to launch the second phase of its luxury project, Three Sixty North, in the next financial year, according to Chairman and Managing Director Vikas Oberoi. The company launched the first phase on June 29 and has already sold all the apartments that were released. For a developer stepping outside the Mumbai Metropolitan Region for the first time in four decades, that is no small validation.

The scale of the first phase alone explains why the market is watching Phase 2 so closely. In the first phase, about 832 apartments are being built with an investment of Rs 4,000 crore. 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 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. These are not modest apartments by any Gurugram benchmark, and they sold anyway.

The bigger financial picture makes the stakes of Phase 2 even clearer. The developer will invest about Rs 6,000 crore across two phases to build ultra-luxury residences. Oberoi Realty has estimated that Three Sixty North will have a total revenue potential of around ₹16,000 crore after both phases are completed. With Phase 1 alone already accounting for a significant chunk of that number, Phase 2 is expected to carry much of the remaining revenue load, which is one reason industry watchers anticipate it will be priced at a premium.

On timing, Vikas Oberoi has said the company now expects to introduce the next phase during the next financial year, possibly in the first quarter. Analysts tracking the Golf Course Extension Road corridor point to a consistent pattern in how this developer prices successive phases. Every Oberoi Realty project with multiple phases has seen Phase 2 price above Phase 1 — Three Sixty West in Worli, Oberoi Exquisite in Goregaon, Oberoi Sky City — the pattern is consistent: 15-25% step-up between phases. If that pattern holds at Three Sixty North, buyers entering at Phase 2 should expect to pay meaningfully more per square foot than the Rs 35,000 benchmark set at launch.

Interestingly, Oberoi himself has downplayed the idea of engineering scarcity to drive up demand. Oberoi Realty is not expecting to sell out all its inventory in one go, something which is 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. "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. That measured approach was also evident in how Phase 1 was handled — after receiving overwhelming demand, the company decided to open all available apartments in the first phase, with Vikas Oberoi saying the decision was taken to ensure fairness for buyers instead of holding back inventory as part of a sales strategy, since limiting the number of available homes would have disappointed many genuine buyers who had shown serious interest in the project.

Beyond pricing, Phase 2 buyers can expect the same scale of ambition that defined the launch. The developer is in talks with hospitality partners, including Grand Hyatt, for services, much like Three Sixty West in Mumbai is serviced by the Ritz-Carlton. On the master plan, once completed, it will include seven residential towers, landscaped gardens, Club Three Sixty North, retail spaces, cafés and other lifestyle amenities designed for premium living. With Phase 1 accounting for six of those towers, keen observers of the Haryana RERA filings will note that Towers A, B, C, E, F and G of Three Sixty North have already been registered, dated 26.06.2026 — leaving the seventh tower, widely expected to anchor Phase 2, still to be filed.

For a prospective buyer, the real question is what evidence will exist by the time Phase 2 opens for bookings. Phase 1 buyers entered at ₹38,000-45,000 with only Three Sixty West's Mumbai resale as the appreciation reference, but Phase 2 buyers will have Phase 1's own trajectory to lean on — how Three Sixty North units traded between Phase 1 allotment and Phase 2 launch — and if Phase 1 units are trading higher in the secondary market by the time Phase 2 launches, the appreciation evidence becomes domestic, not just a reference from Mumbai. That local proof point, more than any billboard campaign, is likely to be the deciding factor for buyers weighing whether the Phase 2 premium is worth paying.

For now, the message from Oberoi Realty is one of patience over urgency. The developer has made clear it isn't chasing overnight sellouts, choosing instead to let demand build organically across phases — a strategy that, if the Phase 1 numbers are any indication, seems to be working exactly as intended.