Gurugram’s SPR Creates Market for High-End Residential Developments: Realtors 

Gurugram / October 11, 2024: Gurugram’s Southern Peripheral Road (SPR) has lately emerged as a premier luxury residential destination corridor, attracting affluent buyers and discerning investors to the region. The strategic location offers a seamless blend of modern urban living and proximity to prominent hubs. The area’s growing prominence in Gurugram’s real estate landscape has made it a magnet for luxury seekers, a press release on behalf of some leading real estate developers in Gurugram said. 

Luxury residential projects along SPR set new benchmarks in the NCR real estate market. As per Magic Bricks Prop Index report 2024, SPR has become a focal point for realty growth owing to its strategic connectivity and location. With 3,614 new unit launches in Q1 2024, the luxury segment dominated demand in the first half of the year. Another detailed report by 99acres.com shows that property prices along the SPR have significantly increased since 2020. Prices increased by 36.1% in year one and an impressive 75.6% in year three. This translates into an astounding appreciation of 78.3% in the last five years, the statement added.

Moreover, with developers like DLF, Signature Global, and others establishing their presence along the corridor, SPR is witnessing a boom in the luxury segment. Alike, Pyramid Infratech has launched a new project – Alban in SPR, a 3BHK luxury residence. Developers in NCR are capitalizing on SPR’s strategic location and rising popularity, delivering projects that feature world-class amenities, prime connectivity, and sustainable living solutions.

Nayan Raheja, Raheja Developers, says, “As Gurugram’s emerging micro-market, the Southern Peripheral Road showcases a huge potential for the luxury real estate segment. As the corridor witnesses continuous growth, the area’s rapid development and upscale real estate projects are pushing property values upwards, offering strong returns for those looking to invest in luxury homes. Thus, as more premium projects enter the region, SPR will continue to attract high-net-worth individuals seeking a modern, luxurious lifestyle.”

Infrastructure development is a compelling factor that drives the real estate market. When mentioning the Southern Peripheral Road, its planned development has created a well-rounded urban ecosystem that gives rise to liveability and productivity. The existing wide and well-maintained roads contribute to improving its appeal as a modern urban corridor.

Ashwani Kumar, Pyramid Infratech, says, “The SPR is emerging as Gurugram’s luxury residential destination in NCR. The corridor’s appeal lies in its strategic connectivity and prime location, which it offers residents. As SPR sees a rise in luxury housing sales, we look forward to contributing to the growth of this corridor, further catering to the increased interest of buyers looking for a luxurious yet conveniently located living environment.”

The Haryana government has been enhancing the infrastructure along SPR. Several upcoming developments, like a proposed metro line along SPR connecting sector 55/56 to Vatika Chowk, the Global City project, a 1,000-acre mixed-use development featuring workspaces, retail areas, and social infrastructure, Delhi-Alwar Regional Rapid Transit System (RRTS) and the Manesar MRTS introducing a metro line linking Rajiv Chowk, SPR, and Vatika Chowk, and more are expected elevate SPR’s status as a prime real estate destination.

Further, its planned infrastructure, including a metro line and commercial development zones, coupled with existing roadways, will solidify SPR’s position as a vital artery for seamless travel, fostering economic growth and convenience for all stakeholders.

Shantanu Gambhir, MD, RISE Infraventures, says, “SPR’s future holds a greater growth potential. With more road networks being built and new metro lines planned, SPR is on track to become even more desirable. The luxury real estate segment here is growing fast, and recent market data suggests a double-digit increase in property values in residential and commercial segments.”.

Therefore, with strong demand from affluent homebuyers and investors and continuous infrastructure development, SPR offers immediate appeal and long-term growth potential. The presence of top developers, the addition of new metro links, and ongoing residential expansions are all contributing to its rapid ascent in the NCR’s real estate landscape.