Gurugram's SPR to become key realty hub in Delhi-NCR

Hindustan Times

29-04-2025

Once a quiet, dusty stretch, Gurugram's Southern Peripheral Road (SPR) has undergone a transformation over the past decade, becoming one of Delhi-NCR's emerging real estate corridors. Analysts say housing demand in the area has jumped six-fold in the past five years, with residential launches surging by 584% and property prices rising by 125%.
With 23 ongoing projects expected to deliver around 11,900 residential units by 2029, SPR remains a prime draw for investors and homebuyers, according to online analytics platform PropEquity.
'SPR has witnessed a remarkable transformation in the past five years,' said Samir Jasuja, founder and CEO of PropEquity. 'Between 2020 and 2024, housing supply along the corridor reached 14,224 units, with 10,101 units absorbed. Even in the first quarter of 2025, despite market fluctuations, 516 units were launched and 139 were sold.' Property prices tell a similar story: the weighted average price for new launches on SPR rose from ₹7,693 per sq ft in 2020 to ₹17,123 per sq ft by the end of 2024, he said.
An analysis by real estate platform Square Yards noted that SPR, after the Dwarka Expressway, has solidified its status as a key realty hub, thanks largely to its connectivity to Manesar and South Delhi. This has spurred the development of upscale residential projects, retail hubs, and commercial centres.
'The stable repo rate has also boosted confidence among investors and homebuyers,' said Navdeep Sardana, founder of Gurugram-based Whiteland Corporation. 'With the completion of SPR, the Dwarka Expressway, and the Rapid Transit System, connectivity will further improve, driving demand. Expansion of IT parks and co-working spaces will also attract a larger workforce, fueling demand for premium housing.'
Location and projects
Strategically located, SPR significantly enhances connectivity across Gurugram. The 16-kilometre corridor connects key locations of Golf Course Road, Sohna Road and NH-48, drastically reducing commute time and easing congestion.
Big-ticket developments, such as DLF's Mall of India, rapid corporate expansion with hubs such as Skyview Corporate Park and Pioneer Square, and major infrastructure upgrades sanctioned by Gurugram Metropolitan Development Authority (GMDA) are fuelling its rise.
Aakash Ohri, joint MD and chief business officer, DLF Homes, said: 'When people think about buying a home, the first thing they usually look at is the location. Everything else comes after that. And when choosing a location, connectivity, how easy it is to get to other places, is the most important factor. Other things like nearby roads, shops, schools, and hospitals also matter. Right now, Gurugram is growing fast, with many new infrastructure projects. One of the fastest-growing areas is the SPR.'
Pradeep Aggarwal, founder and chairman of Signature Global (India) Ltd, said, 'SPR has firmly established itself as one of Gurugram's premier real estate corridors. Fuelled by excellent connectivity and increased commercial activity, SPR's strategic location is drawing both homebuyers and investors.'
Urban bodies play key role
At the heart of this growth lies substantial investment in infrastructure, extensive commercial development, and strategic location advantages. Recently, GMDA approved an ₹8.25-crore project to upgrade the critical stretch between Vatika Chowk and NH-48. This initiative encompasses constructing a 2km footpath and cycle track, stretching along sectors 58/61 and 59/61. Moreover, a 56km cycling and pedestrian corridor from Sector 58 to Sector 67 is currently under development.
The Haryana government's latest budget allocation of ₹2,000 crore for the fiscal year 2025–2026 specifically targets SPR's development, with major provisions dedicated to road widening, enhancing civic amenities, and public transport infrastructure.
Ohri of DLF Homes said: 'This area is becoming a popular spot for new and premium real estate projects. It's well-connected, and both businesses and homebuyers are showing a lot of interest. SPR connects easily to major places in Gurugram and Delhi, and it also gives smooth access to cities like Jaipur, Manesar, Sonipat, Karnal, and Panipat. We have launched two new key projects in sectors 76 and 77, along SPR. Both projects were very well received and were sold off before a formal market launch.'
Ashwani Kumar from Pyramid Infratech underscored the transformative power of infrastructural upgrades. 'From a mere transit corridor, SPR has evolved dramatically, emerging as one of the most transformative infrastructure developments shaping Gurugram's future. Its unmatched connectivity with Golf Course Extension Road, NH-48, and Dwarka Expressway is driving rapid growth in residential and commercial real estate, attracting both domestic and international investors,' Kumar said.
Commercial potential
Commercial developments have also significantly boosted SPR's profile, attracting global corporations and substantial economic activity. Key developments, such as Skyview Corporate Park, Pioneer Square, and Bestech Business Tower have attracted international giants including TCS, PepsiCo, and American Express, cumulatively employing over 82,000 professionals. Moreover, the much-anticipated DLF Mall of India, which is set to become the largest retail space in the country, is projected to exponentially increase footfall, retail activity, and property values in the vicinity.
Ashok Kapur, chairman, Krishna Group and Krisumi Corporation, said, 'In recent years, Gurugram has emerged as a hot spot for real estate, witnessing a remarkable surge in demand, particularly across key micro-markets such as SPR. These areas have garnered strong interest from both investors and homebuyers, driven by rapid infrastructure development and promising future growth.'
Developers said that with continued government support for infrastructure growth in these regions, future prospects look promising for the housing and allied sectors. Sustained growth would reaffirm Gurugram's emergence as a premier real estate hub, promising high returns and strong long-term investment potential.
Mohit Agarwal, business head, Conscient Infrastructure Pvt Ltd, said, 'The construction of six flyovers and an elevated road along the SPR is a major step forward for Gurugram's infrastructure. This project will improve connections between important residential areas, including New Gurugram from sectors 76 to 80, making the city more liveable… This will increase demand for homes along SPR by making them more accessible.'
Residents optimistic
Residents living in societies along SPR offer positive testimonials. Ritika Sharma, a resident of Sector 70A, said: 'Living here has transformed our lifestyle dramatically. The convenience, connectivity, and overall quality of life have significantly improved, making it a fantastic place to live and invest.'
Anil Mehta, a Sector 71 resident, said, 'Infrastructure developments are visibly improving daily life, with better roads, public spaces, and facilities enhancing the neighbourhood significantly.'
Shveta Sharma, a long-term resident of Tulip Violet in Sector 69, said the area has transformed remarkably. 'SPR's growth from a quiet stretch into a thriving community has been phenomenal,' Sharma said.
Ajay Sharma, a resident of Tulip Ivory in Sector 70, said that development of SPR must align with Gurugram's larger urban vision, especially its Master Plan 2030. 'GMDA and MCG must continue to prioritise quality infrastructure, sustainable urban planning, and seamless service delivery. SPR's current trajectory presents a golden opportunity,' he said.