News: Oberoi Realty to Sell Gurugram Project Gradually-30-06-2026
Oberoi Realty will not try to sell out its first Delhi-NCR project at launch and will instead release inventory in stages, following the approach it uses in Mumbai, Chairman and Managing Director Vikas Oberoi told Hindustan Times.
The company launched Three Sixty North in Gurugram on June 29. The ultra-luxury project, involving a total investment of around Rs 6,000 crore, covers 14.8 acres on Golf Course Extension Road in Sector 58 and is inspired by its flagship Three Sixty West in Mumbai. The first phase has 432 residences in six towers, and the master plan has seven. Homes start at Rs 18 crore, excluding taxes, in 3 BHK + Studio, 4 BHK + Studio, duplex and penthouse formats, the company said.
Oberoi described the strategy as "sustenance", saying the company plans to "slowly slip into the market". Not all units in the six towers have been opened. The company is gathering interest first, and inventory will be sold in phases through the construction period.
He said the company’s Mumbai projects are all sold by the time they are built, and selling instantly means leaving a lot on the table. Being new to a market where launches are a big event, he wants to wait and watch.
The response so far has been good, Oberoi said. The company is confident about the product but nervous about the outcome. It took four decades to step outside the Mumbai Metropolitan Region (MMR), he noted, and the goal is to survive for the next 100 years.
Comparing the two markets, Oberoi said Mumbai buyers are very practical and want to use every inch. That was not so in NCR while pricing in the North was soft, but prices have risen and the Gurugram customer profile is now almost the same as Mumbai’s. Gurugram’s cosmopolitan buyer base is a huge advantage, he said, and the company brings its Mumbai efficiency here.
In future, the company will take up projects across price and size segments in Gurugram, as in Mumbai, where its apartments range from Rs 2.5-Rs 3 crore to Rs 200 crore.
Oberoi said he would love to have businesses of similar size in Mumbai and Gurugram eventually. For now, the focus is on establishing the company and expanding in Gurugram after MMR, with no thought beyond Delhi-NCR at this stage.
