Oberoi Realty Expands into NCR Market with New Luxury Residential Project in Sector 58

Mumbai-based real estate developer Oberoi Realty is making its debut in the Delhi-NCR market with a luxury residential project in Gurugram, marking a key milestone in the company’s strategic expansion beyond its established base in Mumbai. The move signals a broader shift in focus as the developer seeks to tap into new high-value markets.

The upcoming Gurugram project will follow the design philosophy of Oberoi Realty’s acclaimed Three Sixty West development in Mumbai’s Worli area. Planned as a large-format, high-end offering, the Gurugram development will feature apartments ranging from 5,000 to 8,000 square feet. The launch is expected in the second half of the current financial year, with planning and approvals already in advanced stages.

In November 2023, Oberoi Realty acquired a 14.81-acre land parcel in Sector 58, Gurugram, for ₹597 crore. With a development potential of approximately 2.6 million square feet of floor area, the site is expected to deliver a premium residential experience that aligns with the company’s emphasis on quality, design, and scale.

The Gurugram market, especially in the luxury and upper-mid segments, has shown strong absorption in recent years. A growing population of affluent buyers, coupled with enhanced connectivity and social infrastructure, has turned the city into a key destination for upscale housing.

Industry professionals see Oberoi Realty’s entry into Gurugram as a calculated move aligned with evolving market dynamics. The Delhi-NCR region—particularly Gurugram—has emerged as one of the highest-performing residential markets in terms of sales value. With limited established players operating in the luxury segment, the market presents an opening for brands with proven execution capabilities.

Analysts like Ritesh Mehta of JLL India have noted that the combination of rising demand, urban migration, and infrastructure projects like the Dwarka Expressway is creating favourable conditions for well-capitalized developers entering the region.

Oberoi Realty’s track record in delivering premium residential and mixed-use developments in Mumbai lends credibility to its NCR foray. The company appears poised to leverage its brand equity to appeal to a similar buyer profile in Gurugram—affluent, discerning, and experience-driven.

Alongside its NCR expansion, Oberoi Realty is also advancing plans for a luxury development in Alibaug. In December 2024, the company acquired 81 acres in the coastal town, where it intends to build branded villas and a hotel under the Ritz-Carlton banner. The plan includes constructing a sample villa and a Ritz-managed restaurant on-site before launch, creating a physical showcase for potential buyers.

The Alibaug venture signals a deeper push into high-end second-home destinations, with a focus on curated experiences and global partnerships. It’s a natural progression for the developer as it moves into integrated, lifestyle-led offerings.

In the retail space, Oberoi Realty has been scaling steadily. March 2025 saw the soft launch of Sky City Mall in Borivali—its second major retail destination after the successful Oberoi Mall in Goregaon East. Spread across 1.2 million sq ft of gross leasable area, the mall features a tenant mix that includes premium jewellers and watch brands, offering a refined experience tailored to the western suburbs of Mumbai.

Rental values for the mall range from ₹400 to ₹1,000 per sq ft (carpet area), and early leasing activity indicates strong interest across retail categories.

With projects now spanning Gurugram, Alibaug, and western Mumbai, Oberoi Realty is diversifying both geographically and by asset class. While Mumbai remains its core market, the entry into Delhi-NCR and Alibaug reflects a shift toward identifying high-growth micro-markets beyond the metro. Each project reinforces the developer’s focus on scale, design excellence, and premium positioning.