Mumbai-based real estate giant Oberoi Realty has made a powerful entry into the National Capital Region (NCR) residential market, securing an impressive ₹8,109 crore in bookings for its first luxury housing project in Gurugram. The project, named 'Three Sixty North,' launched on June 29, quickly achieved this milestone, marking a significant expansion beyond the company's traditional Mumbai stronghold.
Gurugram Project Sees Strong Demand
Located in Gurugram's upscale Golf Course Extension Road micro-market, Three Sixty North has sold 13.52 lakh sq ft of RERA carpet area, equivalent to 23.10 lakh sq ft of saleable area, within days of its launch. The robust response underscores the sustained high demand for luxury residences in Gurugram, particularly from high-net-worth individuals, entrepreneurs, senior professionals, and Non-Resident Indians (NRIs) seeking expansive homes.
Project Details and Pricing
- Location: Sector 58, Golf Course Extension Road, Gurugram
- Land Area: 14.8 acres for the first phase
- Apartments in Phase One: 832 units across six towers (overall development will have seven towers)
- Starting Price: Apartments are priced from ₹18 crore, with a base selling price of ₹35,000 per sq ft, positioning it as a premium offering in the region.
- Configurations: The project offers 3 BHK + Studio and 4 BHK + Studio apartments, along with duplex residences and penthouses, with sizes ranging from approximately 5,500 sq ft to over 13,000 sq ft.
Oberoi Realty had initially estimated the project's total revenue potential at ₹16,000 crore across its two phases, with an estimated investment of around ₹6,000 crore. With the current bookings, the company has already achieved approximately 51% of its projected revenue potential.
Vikas Oberoi, Chairman and Managing Director of Oberoi Realty, expressed confidence in the company's ability to successfully extend its brand to the NCR market during the launch event.
Luxury Amenities and Target Audience
Inspired by Oberoi Realty's flagship 'Three Sixty West' in Mumbai, 'Three Sixty North' features a master plan that includes meticulously landscaped gardens, a signature clubhouse, and a curated high-street retail boulevard. Key amenities encompass:
- Club Three Sixty North
- Wellness facilities and a fitness centre
- Recreation spaces and social lounges
- Extensive landscaped open areas
- The Boulevard, a luxury retail street with cafés and curated shopping experiences
The project specifically targets entrepreneurs, business owners, CXOs, global Indians, NRIs, and other ultra-high-net-worth homebuyers seeking an exclusive lifestyle in Gurugram.
To date, Oberoi Realty has delivered 51 real estate projects spanning 17.3 million sq ft, with over 34 million sq ft currently under construction, reinforcing its position as a major player in the Indian real estate sector.