Mumbai- based developer Oberoi Realty is preparing to enter the high potential NCR market with its plan to acquire a 50- acre plot in the high growth corridor of Golf Course Extension Road (GCER) The land deal may cost the company Rs 1000 crore. Currently, there is an under-construction residential tower on the property developed by IREO Projects.
Oberoi Realty is eyeing this micro market of Gurgaon which has emerged as a prime residential and commercial hub , with leading players like DLF, M#M, Hines, Mahindra Lifespaces already present there. What has fuelled the interest of Oberoi Realty is the fast-growing residential market along GCER where rates have seen up to 30 percent increase in the last few months.
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