Oberoi Realty enters Delhi-NCR with ₹6,000 cr plan

A long-awaited expansion beyond Mumbai

Oberoi Realty has formally entered the Delhi-NCR real estate market, marking a significant shift for a developer best known for projects in Mumbai. The company announced the launch of its first luxury housing project in the region, branded as Three Sixty North, in Gurugram. Management framed the move as an attempt to replicate its Mumbai playbook in a new, high-value micro-market. The entry comes at a time when premium housing demand in Gurugram’s established corridors has stayed resilient. The company’s leadership also positioned the launch as a proof point that its brand can travel beyond its home market. For investors, the project provides a measurable pipeline in a new geography with large-ticket unit economics.

What Oberoi Realty launched in Gurugram

The project is located on Golf Course Extension Road in Sector 58, Gurugram, one of the city’s key luxury residential stretches. The development has been described as an ultra-luxury, master-planned residential project. Multiple reports in the provided information point to a multi-tower layout, with a broader plan of seven towers. The company has launched the first phase, opening the project to the market through initial inventory. The development is also described as drawing inspiration from Oberoi Realty’s Three Sixty West project in Worli, Mumbai. The launch establishes the company’s operating foothold in Haryana, where regulatory and sales execution will now be watched closely.

Investment size and revenue potential disclosed

Oberoi Realty has put clear numbers on the project’s financial scale. The company said the total project cost is around ₹6,000 crore across both phases. It also disclosed an overall revenue potential of ₹16,000 crore including both phases. These two data points indicate the company is targeting a large, multi-year monetisation opportunity in NCR’s premium segment. While revenue realisation depends on sales velocity and construction progress, the stated potential provides a benchmark for tracking execution. The announced pricing and apartment sizes underscore the ultra-luxury positioning, where even a limited number of sales can materially add to bookings.

Phase 1 details: units, towers, pricing, and sizes

According to the company’s announcement carried in the provided text, the first phase comprises 832 units across six towers. The company also disclosed a basic selling price of ₹35,000 per sq ft for the first phase. Starting ticket sizes were placed at ₹19 crore in one disclosure, while another note said homes were priced from ₹18 crore onwards (excluding taxes). The apartment sizes stated range from about 5,500 to 5,600 sq ft up to 8,500 sq ft for apartments, with a 13,000 sq ft penthouse. Configuration mix cited includes 3 BHK + Studio, 4 BHK + Studio, duplex, and penthouse units. These numbers together place Three Sixty North among the highest-priced residential launches in the Gurugram market.

Why the company says the NCR brand move is feasible

Oberoi Realty CMD Vikas Oberoi told reporters in Gurugram that the company is launching its first project in Delhi-NCR and feels confident its brand is “transportable” to the NCR market. That statement matters because brand perception plays a direct role in premium housing absorption, especially in a market crowded with high-end launches. The company’s strategy appears to be to lead with a flagship-style project rather than a mid-segment product. The reference to Three Sixty West signals an intent to carry over a similar design and positioning philosophy. In ultra-luxury housing, credibility on delivery timelines, specifications, and service quality typically drives pricing power.

Regulatory milestone and stock reaction

Separately, the provided information notes that Oberoi Realty shares rose about 3% on June 24 after the firm received RERA approval for its Gurugram project, described as a key regulatory step. The reporting said the HRERA website indicates the project received approval, enabling the company to proceed with launch, open bookings, and gain revenue visibility from the Haryana market. For listed developers, RERA registration often acts as a gating item for formal sales activity and marketing. The immediate share-price reaction highlights that the market treated the approval as a meaningful de-risking event for the NCR entry.

Project footprint and the set of figures investors should track

Different parts of the provided text cite varying project metrics, which is common when multiple reports compile early-stage details. The land area is cited at 14.8 acres, 14.81 acres, and about 15 acres in different places. One HRERA-linked detail mentions 2.6 million sq ft potential and around 450 ultra-luxury units, while another report describes roughly 600 total units and a low-density concept. Another disclosure in the text states the first phase comprises 432 residences across six towers, even as the company’s announcement cited 832 units for phase 1. Because these figures do not fully align across sources, readers should anchor on what the company explicitly stated at launch while watching for updated regulatory filings and investor communications.

Key facts snapshot

Street estimates cited by media

The provided text also cites a media report that BofA Securities estimated the first phase of the Gurugram project could have a gross development value (GDV) of ₹2,500-3,000 crore, with overall GDV of ₹10,000 crore. These are not company-disclosed numbers in the excerpt, but they provide a reference point for how analysts may be framing the opportunity. For investors, it is useful to compare such estimates against the company’s stated ₹16,000 crore revenue potential, noting that GDV and revenue potential can be presented differently depending on definitions, phases, and inventory mix. The key near-term markers remain pace of bookings, pricing stability at the stated ₹35,000 per sq ft base, and clarity on phased inventory.

Market impact and what to watch next

The launch adds a major new addressable market for Oberoi Realty after operating for decades primarily in Mumbai. For the Gurugram luxury market, the entry of a Mumbai premium developer can increase competition at the top end, especially on Golf Course Extension Road. The company’s disclosed pricing and large unit sizes suggest the buyer pool will be narrower but high-value, making early absorption and product differentiation critical. On the regulatory side, the RERA approval cited in the provided information is a practical trigger for formal sales and bookings. Going forward, investors are likely to track updates on the second phase, reported tower and unit counts, and any timelines disclosed through regulatory filings.

Conclusion

Oberoi Realty’s Three Sixty North is a high-ticket, high-investment debut in Delhi-NCR, anchored by a stated ₹6,000 crore project cost and ₹16,000 crore revenue potential. The first phase has been launched in Gurugram with pricing benchmarks like ₹35,000 per sq ft and entry prices around ₹18-19 crore, depending on the disclosure. The project’s scale, along with the reported market reaction following RERA approval, makes it an important new driver to monitor in the company’s growth narrative. Next milestones will revolve around bookings momentum, further clarity on phased inventory, and updates tied to regulatory and construction timelines mentioned in filings and approvals.