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Oberoi Realty Ltd has reported gross bookings of approximately INR 8,109 crore in the first phase of its debut residential project in the Delhi-NCR market, reflecting strong demand for luxury housing in Gurugram. The bookings were achieved at the company's newly launched Three Sixty North development on Golf Course Extension Road, where 13.52 lakh sq ft of RERA carpet area has been sold. The 14.8-acre project has an estimated development cost of INR 6,000 crore and a projected revenue potential of INR 16,000 crore across two phases. The first phase comprises 832 apartments across six residential towers, with prices starting from INR 18 crore per unit.
Oberoi Realty Ltd has recorded gross bookings of approximately INR 8,109 crore in the first phase of its newly launched luxury residential project in Gurugram, marking a strong market response to the Mumbai-based developer's entry into the Delhi-NCR residential market. The company disclosed the sales performance in a regulatory filing released in the past week.
The bookings were recorded at Three Sixty North, Oberoi Realty's first residential development in the National Capital Region. According to the company, the project has achieved sales of 13.52 lakh sq ft of RERA carpet area, equivalent to 23.10 lakh sq ft of saleable area.
Located on Golf Course Extension Road in Gurugram, the development spans 14.8 acres. Oberoi Realty launched the first phase of the project with 832 residential units spread across six towers. The company had announced the project launch in the past week, marking its formal entry into the Delhi-NCR housing market.
At the time of the launch, the developer stated that the project has a total estimated investment of approximately INR 6,000 crore across both phases. The entire development is expected to generate revenue of around INR 16,000 crore upon completion and sale of all units.
The first phase was introduced at a base selling price of INR 35,000 per sq ft, with apartment prices starting from approximately INR 18 crore. According to the company, the project is positioned within the luxury residential segment of the Gurugram market.
Speaking during the project launch, Chairman and Managing Director Vikas Oberoi had said the company was entering the Delhi-NCR market with confidence in the strength and recognition of its brand beyond its established markets. He also stated that the full project, including both phases, carries an estimated revenue potential of INR 16,000 crore, while the overall development cost is expected to be around INR 6,000 crore.
The launch comes as several national developers continue to expand their presence in the Delhi-NCR luxury housing market, particularly in Gurugram, where premium residential projects have witnessed sustained demand over the past year.
According to the company, Oberoi Realty has completed 51 real estate projects with a cumulative development area of 17.3 million sq ft since inception. It currently has more than 34 million sq ft of projects under construction across its residential, commercial and mixed-use portfolio.
Source - PTI
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