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Time of India
29-05-2025
- Business
- Time of India
Gurgaon's Southern Peripheral Road: A booming real estate hub with Rs 100,000 crore projects
DLF, India's premier developer, has introduced two upscale residential developments that have experienced value appreciation post-launch. (AI image) 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. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo 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.
Time of India
26-05-2025
- Business
- Time of India
Southern Peripheral Road in Gurgaon emerges as the region's most active micro-market for real estate projects
Gurgaon's Southern Peripheral Road is a real estate hotspot. Projects worth Rs 50,000 crore launched since 2022. Another Rs 50,000 crore are in the pipeline. Property prices have increased sharply. Improved infrastructure drives demand. Developers are launching new projects. The area attracts strong investor interest. Connectivity enhancements will further fuel demand. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Southern Peripheral Road (SPR) in Gurgaon has emerged as the region's most active micro-market with projects worth Rs 50,000 crore launched since 2022 and another Rs 50,000 crore in the pipeline over the next three prices along SPR have recorded the sharpest increase in five years, rising from Rs 7,690 per sq ft in 2020 to Rs 18,000 per sq ft by largest developer, DLF , has launched two luxury residential projects that have seen price appreciation post launch, and the next phase is expected to be rolled out 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 price surge is largely attributed to improved infrastructure, including road widening and the construction of flyovers, which have enhanced connectivity to key areas such as 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, which holds a 93-acre land parcel in the area, has already launched over 2.1 million sq ft of development and is planning an additional 14.9 million sq a 16-km corridor linking Gurgaon-Faridabad Road to NH-48, has significantly boosted both accessibility and real estate an estimated sales rate of Rs 18,000 per sq ft, Signature Global's planned projects in the region are expected to generate total sales worth Rs 27,000 recently announced Trump Residences is also located in the SPR belt.'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 project launched in 2023 in Sector 76 along SPR at Rs 10,500 per sq ft saw a sharp appreciation of nearly 64%, with current prices hovering 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.
News18
01-05-2025
- Business
- News18
Southern Peripheral Road Sees 6-Fold Rise In Housing Demand; Will It Become Gurgaon's Next Cyber City?
Real Estate: From 2020 to March 2025, the region recorded the absorption of 10,240 units, a steep rise from the 1,535 units sold during 2015 to 2019. Once a quiet corner of Gurugram, the Southern Peripheral Road (SPR) has quickly turned into one of the hottest real estate zones in Delhi-NCR. Over the past five years, housing demand along SPR has skyrocketed, witnessing a six-fold jump, according to PropEquity data. From 2020 to March 2025, the region recorded the absorption of 10,240 units, a steep rise from the 1,535 units sold during 2015 to 2019. According to real estate developers, Southern Peripheral Road (SPR) has become one of Gurugram's prime real estate corridors on the back of infrastructure growth, excellent connectivity, and increasing commercial activity. The number of new launches on SPR has also increased to keep up with the growing demand. Over the past five years, the area has witnessed an impressive eight-fold surge in residential launches, with 14,740 housing units introduced between 2020 and March 2025. This marks a significant rise compared to just 1,819 units launched during the 2015 to 2019 period. During this period, property prices have surged by 125 per cent, driven by the rapid development of major corporate hubs. On the back of this remarkable growth, SPR is being projected as the next Cyber City, a thriving business and development hotspot that is attracting the interest of investors and professionals alike. PropEquity research shows that property values on Gurugram's Southern Peripheral Road have more than doubled. Jumping from Rs 7,693 per sqft in 2020 to a whopping Rs 17,123 per sqft by 2024-end, SPR is now a top realty hotspot for and a smart place to invest. Boosting SPR's position as a top real estate and business hub, the GMDA has approved an Rs 8.25 crore project to upgrade the Vatika Chowk to NH-48 stretch. The plans also include a 2km footpath and cycle track along sectors 58/61 and 59/61, along with a 56km cycling and pedestrian corridor from Sector 58 to 67. Sharing his views on SPR's growth, Pradeep Aggarwal, founder & chairman of Signature Global (India) Ltd, said, 'Southern Peripheral Road (SPR) has become one of Gurugram's prime real estate corridors, fueled by infrastructure growth, excellent connectivity, and increasing commercial activity. Its strategic location enhances commuting, attracting both homebuyers and investors." We have strategically positioned our residential project, Titanium SPR, in Sector 71, offering modern amenities and seamless connectivity. The region, with premium developments like SPR Estate, is transforming into a well-integrated urban hub, making it a top destination for homeowners and investors alike." Southern Peripheral Road (SPR) is rapidly transforming into 'Cyber City 2," supported by developers like DLF and the upcoming DLF Mall of India, which will be the largest mall in India and boost retail and business activity. Ashok Kapur, chairman of Krishna Group and Krisumi Corporation, said, 'In recent years, Gurugram has emerged as a hotspot for real estate, witnessing a remarkable surge in demand, particularly across key micro-markets such as Southern Peripheral Road, Dwarka Expressway, Central Peripheral Road, and areas around the Sohna Elevated Corridor." These areas have garnered strong interest from both investors and homebuyers, driven by rapid infrastructure development and promising future growth. As a result, property prices have risen manifold, with some locations experiencing exponential appreciation, he added. The area already has major corporate hubs, including offices for American Express and Air India's training center, along with 18 commercial projects. Key developments like Skyview Corporate Park, Pioneer Square, and Bestech Business Tower house top companies like TCS and PepsiCo, employing over 82,000 the last five years (2020–2024), new project launches on SPR surged by 584 per cent, rising from six in 2015–2019 to 23 in 2020–2024. Housing supply also grew nearly sixfold, from 1,602 to 10,962 units, according to PropEquity. Garvit Tiwari, director and co-founder of property consulting firm InfraMantra, said, 'The Southern Peripheral Road (SPR) has emerged as a key micro-market in Gurugram. The exponential rise in supply with close to 11,000 units being launched in the last five years suggests the growing demand owing to increased commercial activity, infrastructure development and connectivity to all parts of NCR." High-end luxury projects like Tulip Crimson in Sector 70 has been drawing investors and end-users owing to its locational advantage, trusted legacy and good return on investment, he added. SPR, a 16-km corridor from Gurgaon Faridabad Road to NH-48, enhances accessibility and real estate value. It connects key roads like Golf Course Road and Sohna Road at Badshahpur Chowk, easing traffic and reducing travel with 20 minutes to Sohna Road, 14 minutes to Golf Course Extension, and 16 minutes to New Gurugram. With 23 ongoing projects scheduled for completion between 2024 and 2029, contributing 11,900 units to the market, SPR is emerging as a prime investment destination. PropEquity recommends DLF Privana West (Sector 76) for long-term growth, Signature Global Titanium SPR (Sector 71) for mid-term returns, and Eldeco Fairway Reserve (Sector 80) for spacious, well-priced homes. Aakash Ohri, joint MD and chief business officer of 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 Southern Peripheral Road (SPR). 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, DLF Privana West and DLF Privana South, as part of our large 116-acre township called DLF Privana, located in Sectors 76 and 77, along SPR. Both projects were very well received and were sold off before a formal market launch. With DLF Privana, our goal is to create a modern and complete community, just like we did with DLF5, offering a high-quality, sustainable, and future-ready lifestyle, he added. Navdeep Sardana, founder of Whiteland Corporation, said, 'The real estate market in NCR, particularly in Gurugram is set to reach new highs, supported by infrastructure development, rising housing demand and a flourishing commercial ecosystem. The stable repo rate is also a factor contributing to this growth. Completion of projects like the Dwarka Expressway, SPR and Rapid Transit System will improve connectivity, increasing demand from homebuyers and investors alike. Expansion of IT parks, MNC and co-working spaces will attract a larger workforce, raising demand for premium residential projects." Fuelled by rising incomes and investments from HNIs and NRIs, Gurugram's luxury housing segment is expected to grow. The increasing demand for sustainable and smart homes will shape the future for real estate development, he added. Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! tags : gurgaon real estate Location : New Delhi, India, India First Published: May 01, 2025, 14:32 IST News business » real-estate Southern Peripheral Road Sees 6-Fold Rise In Housing Demand; Will It Become Gurgaon's Next Cyber City?
Time of India
25-04-2025
- Business
- Time of India
Haryana freezes circle rates amid soaring property prices
GURUGRAM : Property prices in the city and other parts of Haryana are expected to remain stable and people will not have to pay extra money at the time of registration for stamp duty. The Haryana govt has decided not to make any increase in the circle rate — in a move that is likely to stabilise the overheated property market in the city and adjoining areas. Chief minister Nayab Singh Saini has rejected the proposal of the revenue department to revise the circle rate. So now, the old circle rate will remain applicable. The circle rates were last increased in Dec 2024 by 10-30%, which was effective till March 2025. The decision — set to "boost buyer confidence and promote broader participation across housing segments", as per realtors — comes at a time when owning a house or flat in the city has gone out of the reach of common people due to unaffordable pricing. Residential plots cost around Rs 2 lakh to Rs 3 lakh per square yard and the cost of flats starts from Rs 2.5 crore to Rs 3 crore. The govt revises circle rates twice a year, but it can use its special power to change circle rates at any time or stall it as long as it wants. Govt officials said it has been decided not to increase the circle rates in 2025. The circle rates are already on the higher side in the city and Faridabad, and any further increase could have angered the masses. Founder & chairman of Signature Global (India) Ltd. Pradeep Aggarwal hailed the govt's decision to keep circle rates unchanged, calling it a timely move that ensures stability in the property market. "This decision offers relief to homebuyers by keeping registration costs in check, particularly benefiting active markets like Gurgaon. It will help sustainable growth and a balanced real estate ecosystem, ultimately supporting ongoing developments and reinforcing momentum in the housing sector." Govt officials said, in March 2024, the circle rate could not be revised due to the Lok Sabha election. After the election, the rate could not be revised as the date for the assembly election was announced. The new govt was formed in Oct and the new circle rate was implemented in Dec 2024. An official of the revenue department said, "We have not sought any report from the districts about revision in rates."
Time of India
24-04-2025
- Business
- Time of India
Haryana freezes circle rates amid soaring property prices
Gurgaon: Property prices in the city and other parts of Haryana are expected to remain stable and people will not have to pay extra money at the time of registration for stamp duty. The Haryana govt has decided not to make any increase in the circle rate — in a move that is likely to stabilise the overheated property market in the city and adjoining areas. Chief minister Nayab Singh Saini has rejected the proposal of the revenue department to revise the circle rate. So now, the old circle rate will remain applicable. The circle rates were last increased in Dec 2024 by 10-30%, which was effective till March 2025. The decision — set to "boost buyer confidence and promote broader participation across housing segments", as per realtors — comes at a time when owning a house or flat in the city has gone out of the reach of common people due to unaffordable pricing. Residential plots cost around Rs 2 lakh to Rs 3 lakh per square yard and the cost of flats starts from Rs 2.5 crore to Rs 3 crore. The govt revises circle rates twice a year, but it can use its special power to change circle rates at any time or stall it as long as it wants. Govt officials said it has been decided not to increase the circle rates in 2025. The circle rates are already on the higher side in the city and Faridabad, and any further increase could have angered the masses. Founder & chairman of Signature Global (India) Ltd. Pradeep Aggarwal hailed the govt's decision to keep circle rates unchanged, calling it a timely move that ensures stability in the property market. "This decision offers relief to homebuyers by keeping registration costs in check, particularly benefiting active markets like Gurgaon. It will help sustainable growth and a balanced real estate ecosystem, ultimately supporting ongoing developments and reinforcing momentum in the housing sector." Govt officials said, in March 2024, the circle rate could not be revised due to the Lok Sabha election. After the election, the rate could not be revised as the date for the assembly election was announced. The new govt was formed in Oct and the new circle rate was implemented in Dec 2024. An official of the revenue department said, "We have not sought any report from the districts about revision in rates."
