Oberoi Realty sells luxury homes worth Rs 8,109 crore at its first project in Delhi-NCR

New Delhi, Mumbai-based Oberoi Realty Ltd on Sunday said it has sold luxury homes worth Rs 8,109 crore in its newly launched project in Gurugram on strong consumer demand.

The company had on June 29 announced its foray into the Delhi-NCR market with the launch of its first luxury housing project with a total investment of Rs 6,000 crore and a revenue potential of Rs 16,000 crore.

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In a regulatory filing on Sunday, Oberoi Realty said that it has "recorded gross bookings of approximately Rs 8,109 crore at 'Three Sixty North', its first luxury residential development in the NCR."

The company has sold 13.52 lakh sq ft of RERA carpet area (23.10 lakh sq ft of saleable area) in this 14.8 acre project, it added.

The company has launched the first phase of its housing project, located at Golf Course Extension Road in Gurugram, comprising 832 units across six towers.

"We are launching our first project in Delhi-NCR. We feel confident now that our brand is transportable to the NCR market," Oberoi Realty CMD Vikas Oberoi had said on June 29 at a press conference in Gurugram.

The company launched the first phase at a basic selling price of Rs 35,000 per sq ft. The cost per apartment starts from Rs 18 crore.

"The total revenue potential of this project, including the two phases, is Rs 16,000 crore," Oberoi said.

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Asked about the investment, he said the project cost would be around Rs 6,000 crore for both phases.

The company has delivered 51 real estate projects so far, comprising 17.3 million sq ft. More than 34 million sq ft is under construction.