Oberoi Realty Limited (Oberoi Realty) reported gross bookings of Rs 81.09 bn at its maiden residential project in the National Capital Region. In a regulatory filing the company said it sold 1.352 mn sq ft of RERA carpet area, equivalent to 2.31 mn sq ft of saleable area, at Three Sixty North in Gurugram. The bookings were recorded within a week of the project's launch in the Golf Course Extension Road micro-market.

The first phase comprises 832 apartments across six towers on a 14.8-acre site and includes configurations such as three bedroom plus studio, four bedroom plus studio, duplex residences and penthouses. Apartments start at Rs 180 mn with a base selling price of Rs 35,000 per sq ft, positioning the development among the premium residential offerings in Gurugram. Apartment sizes range from about 5,500 sq ft to over 13,000 sq ft.

The developer has estimated an investment of around Rs 60 bn for the entire project across both phases and has projected a total revenue potential of Rs 160 bn. With bookings of Rs 81.09 bn the company has already achieved around 51 per cent of the project's estimated revenue potential. The firm said the robust response underlines strong demand for luxury housing in Gurugram among high-net-worth individuals, entrepreneurs, senior professionals and non-resident Indians.

Oberoi Realty positioned the project as inspired by its flagship Three Sixty West in Mumbai and said the development will eventually comprise seven residential towers with landscaped gardens, a large clubhouse and a curated high-street retail boulevard. The launch phase will feature a signature club, wellness and fitness facilities, recreation spaces and social lounges. The company presented the scheme as a strategic expansion beyond its traditional Mumbai market.

The developer has so far delivered 51 real estate projects spanning 17.3 mn sq ft while more than 34 mn sq ft is currently under construction. The debut in Delhi-NCR thus represents a notable move into one of India's most competitive luxury housing markets. The company characterised the response as validation of its brand and strategy.