+
Oberoi Realty Sells Luxury Homes in Gurugram Project
Real Estate

Oberoi Realty Sells Luxury Homes in Gurugram Project

Oberoi Realty Ltd said it has sold luxury homes worth Rs81.09 billion (Rs81.09 bn) in its newly launched project in Gurugram, reflecting strong consumer demand. The company launched the development as its first luxury residential project in the Delhi-NCR market at the end of June. The launch was presented as the group’s entry into the region and was followed by rapid bookings.

In a regulatory filing the developer reported gross bookings of about Rs81.09 bn at Three Sixty North, its 14.8 acre project on Golf Course Extension Road in Gurugram. The filing indicated sale of 1.352 million sq ft (1.352 mn sq ft) of RERA carpet area and 2.31 million sq ft (2.31 mn sq ft) of saleable area in the initial phase. The company launched the first phase comprising 832 units across six towers at a basic selling price of Rs35,000 per sq ft and noted that apartment prices start from Rs180 million (Rs180 mn).

Oberoi Realty had said on June 29 that total investment in the scheme across both phases would be about Rs60 billion (Rs60 bn) and that the total revenue potential of the project could reach Rs160 billion (Rs160 bn). The company characterised the project as its flagship foray into the NCR market and indicated confidence in porting its brand beyond Mumbai. The group expects the two phases to underpin a sizeable portion of near-term sales.

The developer has delivered 51 real estate projects to date, representing 17.3 million sq ft (17.3 mn sq ft) of completed space, while more than 34 million sq ft (34 mn sq ft) is under construction. Three Sixty North's first phase forms part of a broader expansion strategy for the Mumbai-based group. Management highlighted that the launch reinforces its growth plan in premium housing markets outside its home region.

Oberoi Realty Ltd said it has sold luxury homes worth Rs81.09 billion (Rs81.09 bn) in its newly launched project in Gurugram, reflecting strong consumer demand. The company launched the development as its first luxury residential project in the Delhi-NCR market at the end of June. The launch was presented as the group’s entry into the region and was followed by rapid bookings. In a regulatory filing the developer reported gross bookings of about Rs81.09 bn at Three Sixty North, its 14.8 acre project on Golf Course Extension Road in Gurugram. The filing indicated sale of 1.352 million sq ft (1.352 mn sq ft) of RERA carpet area and 2.31 million sq ft (2.31 mn sq ft) of saleable area in the initial phase. The company launched the first phase comprising 832 units across six towers at a basic selling price of Rs35,000 per sq ft and noted that apartment prices start from Rs180 million (Rs180 mn). Oberoi Realty had said on June 29 that total investment in the scheme across both phases would be about Rs60 billion (Rs60 bn) and that the total revenue potential of the project could reach Rs160 billion (Rs160 bn). The company characterised the project as its flagship foray into the NCR market and indicated confidence in porting its brand beyond Mumbai. The group expects the two phases to underpin a sizeable portion of near-term sales. The developer has delivered 51 real estate projects to date, representing 17.3 million sq ft (17.3 mn sq ft) of completed space, while more than 34 million sq ft (34 mn sq ft) is under construction. Three Sixty North's first phase forms part of a broader expansion strategy for the Mumbai-based group. Management highlighted that the launch reinforces its growth plan in premium housing markets outside its home region.

Related Stories

Gold Stories

Next Story
Building Material

Ramco Cements Mine Restoration Gets Global Biodiversity Certification

The ecological restoration of Ramco Cements’ limestone mine at Pandalgudi in Virudhunagar district, Tamil Nadu, has received international recognition with the site being awarded Advanced Certification by The Global Biodiversity Standard (TGBS). The recognition makes Pandalgudi the first site in Peninsular India to receive the certification and places it among globally recognised biodiversity restoration projects.TGBS, recognised by the International Union for Conservation of Nature (IUCN) and the Convention on Biological Diversity (CBD), assesses biodiversity restoration projects based on s..

Next Story
Equipment

Chicago Pneumatic Launches CPS 950-300 Air Compressor

Chicago Pneumatic India has launched the CPS 950-300 portable air compressor for waterwell, mining and solar foundation drilling applications.The new compressor delivers 950 cfm at 300 psig and is designed to support demanding borewell and foundation drilling requirements. The company said the machine offers up to 10 per cent higher fuel efficiency, helping contractors reduce fuel consumption while maintaining consistent drilling performance.The CPS 950-300 is designed for drilling depths of up to 800 feet, enabling contractors to undertake deeper drilling while improving productivity and cont..

Next Story
Infrastructure Urban

Perceptive Ideas Engineers Structural Systems for RAYA School

Perceptive Ideas Consulting Engineers has provided structural engineering services for RAYA School in Bangalore, helping translate the campus' unconventional architectural design into a buildable structural system.The school has been designed around interconnected circular towers, large open classrooms, cantilevered sections and a 27-metre clear-span auditorium. The towers are connected through internal ramps while retaining their circular geometry.Columns have been positioned around the outer perimeter of the circular towers at intervals of approximately 10 to 13 metres. This configuration al..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code