Oberoi Realty has said that its maiden residential project in Gurugram continues to receive strong customer interest despite legal proceedings that temporarily restrict fresh allotments. The company stated that it has not witnessed any cancellations and that several prospective buyers have chosen to remain on the waiting list instead of seeking refunds of their deposits.
Speaking during the company’s Q1 FY2026-27 earnings call, Chairman and Managing Director Vikas Oberoi said customers who had submitted Expressions of Interest (EOIs) but were not allotted apartments have declined refund offers. According to him, these buyers are willing to wait in the hope that units may become available if any cancellations occur.
“We have customers who refuse to take a refund of the EOI deposit they have given us. They want to wait if there is any cancellation. We are encouraging them to take their money back because we currently have no flats to offer, but buyers are choosing to remain on the waitlist,” Oberoi said.
The comments come after the Punjab and Haryana High Court restrained Oberoi Realty from making any fresh allotments or creating third-party rights in the Three Sixty North project until the Haryana Department of Town and Country Planning (DTCP) decides on a complaint challenging the validity of the project’s licence.
The complaint alleges violations of foreign direct investment (FDI) norms and other statutory provisions. While issuing the interim order, the court directed the DTCP to decide the matter in accordance with the law, considering the interests of existing and prospective homebuyers.
Oberoi Realty has maintained that the court order does not affect apartments already sold and has not halted construction activity at the project site. The company also stated that it will pursue appropriate legal remedies and does not expect the litigation to have any material impact on its business operations.
Image- oberoirealty.com
Three Sixty North marks Oberoi Realty’s entry into the Delhi-NCR residential market. Launched on June 29, the luxury development is located on Golf Course Extension Road, Sector 58, Gurugram, and spans approximately 14.8 acres. The company has planned an investment of around ₹6,000 crore in the project and expects total revenue potential of nearly ₹16,000 crore.
Within days of the launch, the project recorded gross bookings of approximately ₹8,109 crore, making it one of the largest residential launches in the Delhi-NCR market. The first phase comprises more than 800 residences across six towers, while the overall master plan includes seven residential towers. Apartments are priced from ₹18 crore onwards, with configurations including 3 BHK and 4 BHK residences with studio units, duplexes and penthouses.
The project is being developed on a nearly 15-acre land parcel acquired from the financially stressed IREO Group. Existing construction undertaken by the previous developer is being demolished to facilitate the redevelopment of the site under Oberoi Realty’s new master plan.
Despite the ongoing legal proceedings, the company said strong buyer confidence and sustained demand reinforce its long-term outlook for the Gurugram project.
