NEW DELHI: Mumbai realty major Oberoi Realty has made its foray into Delhi NCR with its first ultra luxury residential development in Gurgaon where ticket sizes start at about Rs 20 crore for 5,500 sq feet apartments. While Mumbai Metropolitan Region, especially Worli, remains India’s most expensive real estate market, Gurgaon has post Covid seen a serious spike in prices of luxury homes pulling Oberoi to make an entry here on a 14.8-acre development in Sector 58 on Golf Course Extension Road.Oberoi’s Oberoi Three Sixty West is one of the most expensive apartments in Worli, and the Gurgaon project — called Three Sixty North — is inspired by it. The master-planned development will eventually comprise of seven residential towers, gardens and a clubhouse. Phase 1 of the launch will see apartments sized from 5,500 sq feet to 13,000 sq feet being and prices upwards of Rs 20 crore being offered.Oberoi Realty CMD Vikas Oberoi said: “Our entry into the NCR market marks an important milestone in Oberoi Realty’s growth journey and reflects our long-term vision of building distinctive developments in India’s leading markets. Over the last four decades, we have established a strong track record of creating landmark addresses in Mumbai… With Three Sixty North, we are bringing this philosophy to Gurugram through design-led development inspired by the vision that shaped Three Sixty West. We believe the project will resonate with discerning homeowners seeking expansive residences, privacy and a truly elevated living experience.”With marquee DLF projects, Gurgaon has in recent years emerged as north India’s answer to Mumbai in terms of luxury real estate with apartment sales of upwards of Rs 100 crore becoming a common feature here. Apart from leading businessmen, corporate honchos and those with IPO-led riches, a significant interest here is from NRIs who buy homes for reasons like giving a safe gated environment for their aged parents back home; as an investment and for eventually returning to India if that were to happen in coming years.
