Mumbai-based real estate giant, Oberoi Realty has made a significant investment in the National Capital Region by acquiring a prime 14.81-acre land parcel in Gurugram, Haryana. The buyout worth Rs 597 crore is one of the largest for the company outside its core Mumbai market. CRE Matrix accessed documents confirming this strategic move.
The recently purchased property is located in Gurugram’s Sector 58, a prime area next to the Southern Peripheral Road (SPR). Oberoi Realty’s planned luxury group housing project is well-suited for this neighborhood, recognized for its high-end residential developments. With an estimated 2.6 million square feet of development potential, the area is ideal for a large-scale residential complex.
According to the documents, Oberoi Realty paid a stamp duty of Rs 33.77 crore. Although the land acquisition took place in November 2023, the official sale deed was executed on May 7, 2024. The land was purchased from a consortium that included Delhi NCR-based developer Ireo Residences.
The landmark agreement highlights Oberoi Realty’s determination to widen its reach and shows how Gurugram is increasingly becoming a thriving destination for real estate. Luxury residential developments are ideal for this area due to its proximity to major business centers and well-developed infrastructure. This entry into the NCR market will enable Oberoi Realty to take advantage of these opportunities and provide upscale residential solutions to clients.
Recent Land Transactions in Gurugram
Gurugram’s advantageous location and excellent infrastructure have drawn large investments from prominent real estate developers. Over the past few years, the city has seen a substantial increase in land transactions. In a recent transaction in May 2024, Dvok Buildcon, a Gurugram-based real estate developer purchased an 18-acre plot of land in Gurugram, valued at Rs 310 Cr.
In another significant deal, Chintels India transferred ownership of two land parcels in Dwarka Expressway valued at Rs 121.82 crore and covering a total area of 7.85 acres to Sobha Ltd in Gurugram.
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