Mumbai-based real estate developer Oberoi Realty has entered the National Capital Region (NCR) as the realty firm has acquired 14.81 acres of land in Gurugram in Haryana for Rs 597 crore, according to documents accessed by CRE Matrix, a real estate data analytics firm.
According to documents, the land parcel is located in sector 58 in Gurugram near Southern Peripheral Road (SPR), which is home to a number of luxury residential projects. The company paid a stamp duty of Rs 33.77 crore for the transaction. The land acquisition took place in November 2023 but the sale deed of the land was executed on May 7, 2024.
The land was acquired by Oberoi Realty from a consortium including Delhi NCR-based developer Ireo Residences and other firms.
This deal marks the Oberoi Realty’s foray into Delhi NCR. The development potential of the land is estimated to be around 2.6 million square feet and the company is planning to develop a luxury group housing project on this land.
