Oberoi Realty Expands its Horizons: Enters NCR Market with Land Acquisition in Gurugram

Mumbai-based real estate developer Oberoi Realty makes its foray into the National Capital Region (NCR) with the acquisition of a 14.81-acre land parcel in Gurugram, Haryana.

Oberoi RealtyNcr MarketGurugramReal EstateLuxury Residential ProjectsReal Estate MumbaiJun 25, 2024

Oberoi Realty Expands its Horizons: Enters NCR Market with Land Acquisition in Gurugram
Real Estate Mumbai:Oberoi Realty, a prominent Mumbai-based real estate developer, has marked its entry into the National Capital Region (NCR) market with the acquisition of a significant 14.81-acre land parcel in Gurugram, Haryana. According to documents accessed by CRE Matrix, a leading real estate data analytics firm, the land deal was valued at Rs 597 crore. Located in sector 58 of Gurugram, near the Southern Peripheral Road (SPR), the land parcel is surrounded by several luxury residential projects. The company paid a stamp duty of Rs 33.77 crore for the transaction, which took place in November 2023, with the sale deed being executed on May 7, 2024. The land was acquired from a consortium consisting of Delhi NCR-based developer Ireo Residences and other firms. This strategic acquisition marks Oberoi Realty's foray into the Delhi NCR market, with the company planning to develop a luxury group housing project on the acquired land. The development potential of the land is estimated to be around 2.6 million square feet. With this move, Oberoi Realty is poised to expand its presence in the NCR market, which is known for its high demand for luxury residential projects.

Frequently Asked Questions

Who is the Mumbai-based real estate developer that has entered the NCR market?

Oberoi Realty

Where is the 14.81-acre land parcel acquired by Oberoi Realty located?

Sector 58, Gurugram, Haryana

What is the value of the land deal between Oberoi Realty and the consortium of developers?

Rs 597 crore

What is the development potential of the acquired land parcel?

Around 2.6 million square feet

What type of project is Oberoi Realty planning to develop on the acquired land parcel?

Luxury group housing project

Related News Articles

Property Registration Scandal: 796 Documents Under Scrutiny for Violating Real Estate Laws
Real Estate Pune

Property Registration Scandal: 796 Documents Under Scrutiny for Violating Real Estate Laws

The registration department is investigating 796 property registration documents for non-compliance with real estate regulations, sparking concerns among developers and buyers.

August 1, 2024
Read Article
Maharashtra Weather Alert: Heavy Rainfall Expected in Mumbai, Pune, and Other Districts
Real Estate Pune

Maharashtra Weather Alert: Heavy Rainfall Expected in Mumbai, Pune, and Other Districts

IMD issues yellow alert for Mumbai, red alert for Palghar and Pune; heavy to very heavy rainfall expected in the next 24 hours

August 26, 2024
Read Article
Nagpur Townships Inspected by State-Appointed Panel, Issues Persist
Real Estate Maharashtra

Nagpur Townships Inspected by State-Appointed Panel, Issues Persist

A state-appointed panel inspected several townships in Nagpur, Maharashtra, but issues related to water supply, irrigation clearance, and inspection delays remain unresolved.

September 24, 2024
Read Article
Indore Sees 12.8% Rise in Property Revenue During Festive October
Real Estate

Indore Sees 12.8% Rise in Property Revenue During Festive October

The city of Indore recorded a significant 12.8% increase in property revenue during the festive season in October. According to Balkrishna More, the Deputy Inspector General of Registration for the Indore region, the surge in real estate activity can be a

November 21, 2024
Read Article
Arvind Gurumurthy: A Renowned Legal Expert in M&A, Private Equity, and Corporate Law
Real Estate

Arvind Gurumurthy: A Renowned Legal Expert in M&A, Private Equity, and Corporate Law

Arvind Gurumurthy, a distinguished legal professional, has made significant contributions in the fields of M&A, private equity, and corporate law. With a successful seven-year tenure as Partner at Kochhar & Company, Arvind has extensive experience in hand

December 16, 2024
Read Article
Arthur Laffer Buys $87,156 in NexPoint Diversified Real Estate Trust Stock: A Bullish Signal?
real estate news

Arthur Laffer Buys $87,156 in NexPoint Diversified Real Estate Trust Stock: A Bullish Signal?

Arthur Laffer, the director of NexPoint Diversified Real Estate Trust (NXDT), has made a significant purchase of $87,156 in company stock. This move could signal his confidence in the company's future performance. Investors should consider this as a potential indicator of a bullish market play.

April 8, 2025
Read Article