Oberoi Realty's debut NCR project sold out its ₹8,100 crore first phase within weeks, with 4x demand pushing the developer to fast-track a second phase next fiscal.
Oberoi Realty is preparing to launch the second phase of its luxury Gurugram residential project, Three Sixty North, in the next financial year after witnessing a complete sellout of the first phase, according to Vikas Oberoi, Chairman and Managing Director of Oberoi Realty. The first phase, launched on June 29, comprised six towers with more than 800 apartments and has now been fully sold, marking a major milestone for the company's debut residential project in the National Capital Region (NCR).
Speaking about the response to the project, Vikas Oberoi said the company recorded sales worth approximately ₹8,100 crore in the first phase alone. The response, he said, far exceeded available inventory, with the project witnessing nearly four times the demand for the number of homes on offer.
"We have fully sold everything we had in the first phase," Oberoi said, adding that if the company had accepted all expressions of interest and booking amounts received, the sales figure could have potentially touched ₹30,000 crore. "We literally had 4x demand, meaning for every flat, we had four people wanting to buy, and these are serious buyers because they put ₹50 lakh," he said.
The first phase of Three Sixty North forms part of a larger 14.8-acre luxury residential development located on Golf Course Extension Road, Sector 58, Gurugram. The company has stated that the overall project, spread across two phases, has a total revenue potential of around ₹16,000 crore. The master plan includes seven residential towers, of which six towers were launched in the first phase, while the remaining tower will form the second phase.
According to Oberoi, the second phase is expected to be launched in the next fiscal year, likely in the first quarter, although the exact timing and revenue guidance are still being finalised. "The second phase will launch in the next fiscal, possibly in the first quarter; we are still deciding on the exact timing and finalising the topline for it," he said.
The first phase comprised 832 units and covered 13.52 lakh sq ft of RERA carpet area, equivalent to 23.10 lakh sq ft of saleable area. Homes in the project are priced from ₹18 crore onwards, excluding taxes, and are available in 3 BHK + Studio, 4 BHK + Studio, duplex and penthouse configurations. The company has positioned the development as a high-end lifestyle offering, combining luxury residences with curated amenities and premium design.
Oberoi Realty said the project is being developed as a master-planned luxury community with landscaped open spaces, Club Three Sixty North, and a retail and café boulevard designed to create an integrated residential and lifestyle destination. The project's location on Golf Course Extension Road further strengthens its appeal among affluent buyers looking for premium housing in one of Gurugram's most sought-after corridors.
Oberoi also highlighted the strong and diverse buyer profile that has emerged for the project. According to him, buyers include professionals, CEOs, CFOs and Non-Resident Indians (NRIs), among others. While the company has not yet formally analysed the exact NRI share, it has seen strong demand from overseas buyers as well.
Interestingly, despite earlier indications that the company might release inventory in phases as a sales strategy, Oberoi Realty eventually opened inventory across all towers in the first phase. Vikas Oberoi said the decision was driven by fairness to homebuyers rather than a tactical attempt to control supply.
He explained that with demand running significantly ahead of available homes, restricting supply would have meant serving only a fraction of genuine buyers. "If people are respecting us so much, at least give everything that we have," he said, underlining that the company chose not to hold back stock purely to maximise pricing or create artificial scarcity.
The overwhelming success of Three Sixty North has also strengthened Oberoi Realty's confidence in the Gurugram market. Oberoi said the company's Gurugram order book is likely to exceed what it records in the Mumbai market for the full year, making it one of the most significant contributors to the company's sales pipeline.
With the first phase sold out and the second phase lined up for the next fiscal, Three Sixty North has emerged as one of the most notable luxury residential launches in Gurugram, underlining strong appetite for premium housing in the NCR market.
