Oberoi Realty to replicate Mumbai’s sales strategy in Gurugram: ‘We want to slowly slip into the market’
Oberoi Realty Replicates Mumbai’s Sales Strategy in Gurugram
Oberoi Realty to replicate Mumbai s sales – Oberoi Realty is set to adopt a strategy that has proven successful in Mumbai for its new Gurugram project, Three Sixty North, launched on June 29. The company’s phased sales approach aims to mirror its established methodology in the city, where gradual market entry has consistently driven demand. This shift underscores the vision of the firm’s chairman and managing director, Vikas Oberoi, who emphasized a measured, sustainable strategy to ensure long-term growth.
“Our strategy is sustenance. We aim to gradually gain traction in the market,” Oberoi explained.
The project, located on 14.8 acres of prime land along Golf Course Extension Road in Sector 58, draws inspiration from Oberoi Realty’s iconic Three Sixty West in Mumbai. With an estimated investment of ₹6,000 crore, it offers a variety of luxury residential units, including 3 BHK + Studio, 4 BHK + Studio, duplex, and penthouse designs, priced from ₹18 crore onwards (excluding taxes). This approach is designed to cater to the evolving preferences of Gurugram’s market, aligning with the city’s growing aspiration for urban living.
Diverging from traditional full-scale launches, the initial phase of Three Sixty North includes 432 residences across six towers. The remaining units will be introduced incrementally, enabling the company to assess demand and build momentum. “By releasing units step by step, we create anticipation and ensure a steady flow of interest,” Oberoi added, highlighting the benefits of this method in avoiding market saturation.
Aligning with Emerging Market Dynamics
Oberoi pointed out that the company’s Mumbai strategy has been effective due to its focus on consistency and customer retention. “In Gurugram, we’re mindful of the market’s evolving dynamics, especially as the North region continues to gain prominence,” he noted. The phased model allows for adaptability, ensuring that the project remains responsive to changing buyer preferences and market conditions.
The company’s decision to replicate its Mumbai approach reflects a broader trend in the real estate sector, where developers are increasingly adopting agile strategies to navigate competitive markets. “Gurugram’s buyers are now more aligned with the lifestyle and value expectations of Mumbai’s elite,” Oberoi said, indicating that the city’s customer base has matured to embrace premium living solutions.
Oberoi also highlighted the importance of maintaining quality and consistency across all projects. “Our goal is to grow steadily, ensuring we meet the standards of our iconic Mumbai ventures,” he stated. This commitment to excellence is expected to resonate with Gurugram’s discerning clientele, who are seeking both luxury and practicality in their residential choices.
Looking ahead, the firm plans to expand its Gurugram operations, with a focus on diversifying its portfolio. “We envision a range of projects across different price points and sizes, just as we do in Mumbai,” Oberoi concluded. This strategy not only strengthens the company’s market position but also positions it to capture a wider audience in the Delhi-NCR region.
Industry experts suggest that this approach could be key to overcoming challenges in Gurugram’s rapidly growing real estate landscape. By learning from Mumbai’s experience, Oberoi Realty aims to balance innovation with reliability, creating a blueprint for future developments in the area. The phased release is expected to build brand credibility and foster trust among buyers, which are critical for sustained success in a competitive market.