Mumbai, July 3 -- Oberoi Realty has entered the Delhi-NCR market with the launch of Three Sixty North, its first ultra-luxury residential project in Gurugram. The company has committed an estimated Rs 60 billion (Rs 60 bn) to develop the scheme on 14.8 acres on Golf Course Extension Road in Sector 58. The development draws design inspiration from the group's flagship Three Sixty West project in Mumbai and aims to deliver expansive residences and curated lifestyle amenities.
Total saleable area across the project will be nearly 4.5 million sq ft (4.5 mn sq ft) and the company has opened sales for phase one at a basic selling price of Rs 35,000 per sq ft. Phase one comprises 432 residences across six towers, while the overall master plan will include seven towers with the seventh to be launched in phase two. Homes will be offered in three BHK plus Studio, four BHK plus Studio, duplex and penthouse configurations.
Prices start from Rs 180 million (Rs 180 mn) excluding applicable taxes and the penthouse measures about 13,000 sq ft. The scheme will feature landscaped gardens, a state-of-the-art clubhouse, premium amenities and a Boulevard with curated retail and cafes to integrate convenience and leisure within the campus. The company described the offering as targeted at entrepreneurs, business leaders, global Indians and discerning homebuyers seeking privacy and expansive living.
The company indicated the total revenue potential for the two phases to be around Rs 160 bn, reflecting expectations for significant demand in the ultra luxury segment. Oberoi Realty has delivered 17.3 mn sq ft in the Mumbai Metropolitan Region over four decades and has more than 34 mn sq ft under construction, underscoring its expansion beyond its home market. The entry into Gurugram represents a strategic step as the developer seeks to replicate its design-led approach in one of India's leading residential markets.
Published by HT Digital Content Services with permission from Construction World.