Within 3 days of Launch, 'Oberoi Garden City' sells Homes for Rs. 1,348 crore!

The Oberoi Group announced that it has sold luxury apartments in Thane, a suburb of Mumbai, for 1,348 crore rupees.

It has become one of the biggest bulk buyers of real estate in India. This is comparable to selling gold in terms of wealth. It can only be used as a status symbol, not for practical purposes.

It's very strange to consider such wealth purely as an asset without integrating it further.

On October 18 heads up notice was agreed on commencing the “Oberoi Garden City Thane” unit. It will grow and be promoted in phases.

In the first phase of the development, five towers that are believed to compose one bedroom or three bedroom units of 1475 sq feet each are expected to commence growing from said box of building area.

Entering the niche of luxury residential projects, the company claims to have set sights on over 75 acres development of Oberoi Garden City, Thane which will come with a five-star JW Marriott Hotel Thane Garden City, a club house exclusive member’s area and even an Oberoi International School as well as homes with more than 30 amenities.

Oberoi Reality has released its Q2 results for the year 2024-2025 on October 19 and the firm’s booking value has increased from rupees one thousand four hundred and forty-one crore to rupees two thousand five hundred and nine crore which is an increase of seventy four per cent. The third quarter was significantly more successful and brought rupees 1,442.46 crores in orders, diverse across more than thousand contracts, however it is 49% growth with Q2FY24 results when the booking value was around rupees 965.01 crores.

Vikas Oberoi, chairman and managing director of Oberoi Realty States, "We are thrilled by the tremendous response to the launch of our latest project at Oberoi Garden City Thane. The trust and confidence our customers have shown in our brand and product deeply humbles and encourages us. This project epitomizes our vision of delivering a holistic, luxurious living experience and we believe it will set a new benchmark for luxury in Thane".