Court restores temporary ban on new allotments at Three Sixty North
As filed · Oberoi Realty Limited has informed the Exchange about Project Three Sixty North Gurugram Update
What happened
FactThe Punjab and Haryana High Court has reinstated its direction that no further allotments be made in Oberoi Realty's Three Sixty North project in Gurugram until the next hearing on September 25, 2026. The company said the order does not affect existing allotments or construction and that it believes there is no material adverse impact on its business and operations.
Why it matters
CapitSignal interpretationLitigation creates a contingent liability that is not in reported profit until it crystallises.
What management said before
Prior statements by this company that CapitSignal has recorded changing.
Demand
WithdrawnThe real estate sector in India is expected to reach US$ 1 trillion in market size by 2030, up from US$ 200 billion in 2021.
The demand for luxury real estate has remained resilient, largely unaffected by short-term economic shifts, as discerning buyers continue to purchase apartments that reflect their aspirations and lifestyle.
Change
FactImplication
CapitSignal interpretationWatch next
Fact- Amount claimed against the company
- Whether a provision has been made
- Next hearing or order date
- The real estate sector in India is expected to reach US$ 1 trillion in market size by 2030, up from US$ 200 bi (management committed by FY30)
- In the fiscal year 2024-25, we recorded healthy profit margins across quarters and our highest ever annual con (management committed by FY25)
Evidence
- Oberoi Realty Limited has informed the Exchange about Project Three Sixty North Gurugram Update(opens the original filing in a new tab)
- Earlier statement · FY24
- Latest statement · FY24
How CapitSignal classified this
- Reasoning:
- The interim direction temporarily prevents additional allotments in the project, potentially pausing fresh sales until the court considers the matter again. Existing allotments with approximately ₹7,891 crore of booking value and project construction are stated to be unaffected.
- Matched on:
- body text (weaker evidence than a subject match)
- Confidence in the event type:
- 50%