+
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
Products

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Next Story
Infrastructure Urban

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Next Story
Infrastructure Energy

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code