Oberoi Realty to Launch Gurugram Project Despite Market Woes

Concerns regarding the wider housing slowdown have been dismissed by Oberoi Realty. Demand has been very high for all of its key projects and markets.

Manager and Chairman Vikas Oberoi mentioned that the Goregaon and Borivali projects continue to exhibit sales momentum, and that although the company increased pricing with no loss of demand, it is important to note that any weak spots in the market can be traced back to the specific developer, specific geographic area, and specific type of product.

Key Highlights

• Oberoi Realty dismisses housing slowdown concerns, cites strong demand
• Gurugram project approvals expected in 30–40 days ahead of launch
• Company to enter Delhi-NCR with high-end luxury residential development

With respect to the company’s first project in Delhi-NCR, Oberoi stated that it is expected to take 30-40 days for the approvals of plans for its project in Gurugram to be obtained, leading to the company applying for RERA registration before launching the development.

The luxury high-end apartment development was announced last year and is expected to have 5,000 to 8,000 sq ft apartments. The quality of the development is consistent with what is offered at the Three Sixty West development in Mumbai.

Also Read: M-SANVI Flags Rising Housing Demand in West Delhi Market

In November 2022, Oberoi Realty purchased 14.81 acres of land in Sector 58, Gurugram, at Rs 597 crore, with the potential for development of up to 2.6 million sqft.

According to ICICIDirect Research, pre-sales volume has shown moderation during Q3 FY26 due to the lack of new launches and weakness in certain projects, however, management is confident that demands will continue to be strong and that the upcoming project pipeline can be executed in a timely manner.