Gurgaon's Southern Peripheral Road: A booming real estate hub with Rs 100,000 crore projects
Southern Peripheral Road (SPR) in Gurgaon has become the region's most dynamic micro-market, with developments valued at Rs 50,000 crore initiated since 2022, whilst an additional Rs 50,000 crore worth of projects are scheduled for the next three years.
Property values along SPR have shown substantial growth in five years, increasing from Rs 7,690 per sq ft in 2020 to Rs 18,000 per sq ft by mid-2024.
DLF, India's premier developer, has introduced two upscale residential developments that have experienced value appreciation post-launch, with the subsequent phase expected this quarter.
"Gurugram is growing fast, with many new infrastructure projects. One of the fastest-growing areas is SPR. When people think about buying a home, location plays the crucial role in the decision-making," said Aakash Ohri, Joint MD and Chief Business Officer, DLF Homes according to an ET report.
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The value increase is primarily due to enhanced infrastructure, including expanded roads and new flyovers, improving connections to Golf Course Road, Sohna Road, and NH-48.
"Demand for properties has surged in and around SPR, particularly since the second half of 2021. The region has seen sustained sales momentum, with transaction values rising sharply, underscoring strong and consistent demand," said Pradeep Aggarwal, founder and chairman, Signature Global.
Signature Global, owning a 93-acre plot in the vicinity, has launched over 2.1 million sq ft of development and plans an additional 14.9 million sq ft.
The 16-km SPR corridor, connecting Gurgaon-Faridabad Road to NH-48, has considerably enhanced accessibility and property values.
At a projected sales rate of Rs 18,000 per sq ft, Signature Global's forthcoming projects in the area are anticipated to achieve total sales of Rs 27,000 crore.
Trump Residences, recently announced, is situated within the SPR zone.
"The Gurgaon market continues to attract strong investor interest, and good projects have delivered solid returns in the recent past," said Pankaj Bansal, co-founder, Smartworld Developers.
A development launched in 2023 in Sector 76 along SPR at Rs 10,500 per sq ft experienced significant appreciation of nearly 64%, with current rates around Rs 17,250 per sq ft.
"The real estate market in NCR, particularly Gurugram, is set to reach new highs driven by infrastructure upgrades, rising housing demand, and a vibrant commercial ecosystem. Completion of key projects like the Dwarka Expressway, SPR, and the Rapid Transit System will enhance connectivity and fuel demand from both homebuyers and investors," said Navdeep Sardana, founder, Whiteland Corporation.
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