Oberoi Realty to enter Delhi-NCR with luxury project

At Vikas Oberoi’s initiative, Oberoi Realty will introduce a luxury project to the Gurugram real estate market, where apartments will measure between 5,000 and 8,000 sq ft.

Oberoi announced that the plans for the Gurugram development will mirror those used at Three Sixty West in Mumbai’s Worli district. At that place, flats are sold for Rs. 1.50 lakh per square foot. During a call last week, Oberoi mentioned they are directing their efforts in Gurugram towards the high-end luxury segment.

Key Highlights

• Oberoi Realty to launch a luxury project in Gurugram, inspired by Three Sixty West, with 5,000–8,000 sq ft units.
• Project targets high-end buyers; approvals are in place, launch expected in H2 FY25.
• 14.81 acres acquired in Sector 58 for ₹597 crore, with 2.6 million sq ft development potential.

"It is very similar to what we are doing, maybe a smaller version of Three Sixty West. It will start with 5,000 (sq ft) or so, and will go up to 7,500, 8,000 (sq ft). So it’s literally that sort of product, it's high-end, high-quality, and it's very well designed," said Oberoi.

"Approval-wise, we constantly keep getting approval (for the Gurugram project), so there is really no challenge. We have got a few approvals in the past, maybe a few weeks ago, and the rest of them are also in place, so we are on a good wicket there,” he said.

The Oberoi Realty team plans to introduce its deluxe project in Gurugram in the second half of the ongoing financial year. In November of last year, the company disclosed its purchase of 14.81 acres of land in Sector 58, Gurugram, Haryana, at a cost of Rs. 597 crore. Based on the company’s information, the land can be developed into about 2.6 million square feet.