Oberoi Realty, known for redefining luxury real estate in Mumbai, is now making a strategic leap into the National Capital Region (NCR) with a premium residential project in Gurugram. This marks the company’s first foray outside of Mumbai and comes at a time when demand for high-end housing is surging in the region.
A Landmark Deal in Sector 58
In a landmark deal in November 2023, Oberoi Realty acquired a 14.81-acre land parcel in Sector 58, Gurugram, for ₹597 crore. The land has a development potential of around 2.6 million square feet, making it ideal for a high-end, large-format residential project.
Chairman and Managing Director Vikas Oberoi has confirmed that this project will be tailored for the luxury segment. Drawing inspiration from their flagship Mumbai development—Three Sixty West in Worli—this new Gurugram project aims to introduce a new standard of opulence and sophistication to North India.
Inspired by Mumbai’s Three Sixty West
Three Sixty West is a mixed-use development that has set a benchmark for luxury living in Mumbai. It consists of two towers, one housing a Ritz-Carlton Hotel and the other premium residences. The project is known for its world-class design, massive apartment sizes, and top-tier hospitality services.
Similarly, the upcoming Gurugram development is expected to offer 5,000–8,000 sq. ft. apartments, catering to ultra-high-net-worth individuals and elite buyers seeking luxury, space, and exclusivity. Oberoi Realty’s objective is not just to build homes but to curate a lifestyle.
Why Gurugram?
Gurugram, with its booming commercial hubs, infrastructure development, and rising affluence, has become the luxury housing epicenter of North India. Over the last three years, the city has led the Delhi NCR region in residential sales value.
Real estate experts believe Oberoi Realty’s timing couldn’t be better. With limited players offering ultra-premium housing and rising demand from professionals, entrepreneurs, and NRIs, the market is ripe for a world-class development.
According to Ritesh Mehta of JLL India, “Gurgaon has witnessed the highest value of sales in the NCR over the past three years. The city has a fast-maturing luxury housing ecosystem, and developers with a strong legacy can leverage the rising appetite for aspirational homes.”
Approval Process and Timeline
Vikas Oberoi confirmed that most approvals are already in place, and the remaining are progressing smoothly. The project is expected to be launched in the second half of FY25. “There is no challenge on the approvals front. We’ve been getting them consistently,” Oberoi noted in a recent investor call.
He further highlighted that the company is very selective with its expansion and aims to build only where they can maintain Oberoi Realty’s reputation for quality and luxury.
A Broader Expansion Strategy
Oberoi Realty’s Gurugram project is part of a larger strategy to geographically diversify its portfolio. Alongside this project, the company has acquired over 80 acres of land in Alibaug, Maharashtra, for a luxury hospitality and residential venture in partnership with Ritz-Carlton.
This upcoming Alibaug development will feature branded villas and a luxury hotel, further cementing the company’s commitment to the super-luxury segment. Launch is targeted by the end of this year, with a sample villa and restaurant being readied for preview.
What It Means for NCR Real Estate
The entry of a Mumbai-based luxury developer like Oberoi Realty into NCR signifies growing investor confidence and rising demand for branded, high-end residences in the region. It could potentially raise the bar for luxury construction and design standards in Gurugram.
For the buyers, it means more choices in the ultra-luxury segment and an opportunity to invest in a property backed by a credible, nationally recognized brand.
Real estate consultants believe that Oberoi Realty’s brand name and execution track record will help it stand out in an increasingly competitive market. The company’s strict focus on luxury, design excellence, and strategic location will likely draw strong interest from elite buyers across Delhi NCR and beyond.
Conclusion
Oberoi Realty’s move into Gurugram is more than just a geographic expansion—it’s a statement. It signals the company’s intent to become a pan-India luxury real estate leader. With its iconic Mumbai pedigree, strategic land acquisition, and commitment to unmatched quality, Oberoi Realty is poised to create a new landmark in Gurugram’s luxury housing space.
As the project nears launch, all eyes will be on how this renowned developer reshapes the NCR real estate landscape—one high-rise at a time.