During the initial quarter of 2024, the Southern Peripheral Road corridor saw the introduction of 3,614 units, with the luxury segment claiming a majority share of 61%.
In Gurugram’s real estate scene, the Southern Peripheral Road (SPR) is swiftly becoming the preferred destination for investors and homebuyers alike. Extending across 16 kilometers, SPR has emerged as the latest and most coveted real estate hub in the area, enticing investors and homebuyers with its connectivity to Manesar and South Delhi, upscale living options, and promising prospects. With various planned infrastructure projects such as metro and expressway connections expected to boost residential real estate demand, experts believe that the Southern Peripheral Road is set to transform the urban lifestyle and business landscape in the region.
Latest Trends in SPR’s Luxury Real Estate Scene
Based on the most recent Cushman & Wakefield Q1 2024 Report concerning SPR, there were 3,614 newly introduced units in the corridor during this timeframe, with the luxury sector making up 61 percent of this total. This increase in new offerings underscores the escalating desire for high-end residential properties in the area.
Efficient Connectivity: Southern Peripheral Road’s Strategic Positioning
The spaciousness of the road guarantees a seamless traffic flow, connecting significant routes such as Golf Course Road, Golf Course Extension Road, and NH-8. Additionally, SPR provides convenient access to Indira Gandhi International Airport, Jaipur, Agra, and the Delhi-Mumbai Industrial Corridor, positioning it as a prime option for businesses in search of strategically connected locales for their operations.
Insights from Ravi Aggarwal, Co-founder and Managing Director of Signature Global (India) Ltd., on the Influence of Southern Peripheral Road
Ravi Aggarwal, Co-founder and Managing Director of Signature Global (India) Ltd., highlighted the significance of Southern Peripheral Road’s development, emphasizing its recent expansion due to its strategic positioning and excellent connectivity. He noted that SPR’s presence significantly contributes to the appreciation of property values in the area. Aggarwal also underscored SPR’s emergence as a prominent real estate hub, attributing this to the increasing preference of discerning homebuyers for sectors like sector 71 near SPR, where they seek both quality and convenience.
“SPR’s Vibrant Real Estate Scene”
The appeal of Southern Peripheral Road (SPR) extends beyond its connectivity to include its residential and commercial developments. As per a Micro-Market Overview Report from ANAROCK, SPR contributes to the increase in property values in Gurgaon by offering seamless connectivity throughout key areas of the city.
The significance of SPR is further highlighted by the participation of renowned developers such as DLF, Signature Global, Whiteland Corporation, Elan Group, and Royal Green Realty, whose contributions have played a pivotal role in transforming SPR into a sought-after real estate destination.
Similarly, Pankaj Pal, Managing Director of Whiteland Corporation, emphasized SPR’s positive impact on property value appreciation, describing it as more than just a transit route but rather a dynamic center of residential and commercial excellence, seamlessly blending connectivity with luxury.
As a key transit route in the Delhi NCR region, the Southern Peripheral Road has significantly enhanced the value of luxury properties in the area. Looking ahead, SPR’s future as a highly desirable real estate investment destination appears even more promising than ever before.
Is SPR Gurugram’s Top Commercial Hub?
The prospects of SPR appear promising, buoyed by planned infrastructure enhancements such as the forthcoming metro line running alongside the road. As outlined in the Gurgaon-Manesar Masterplan, Sectors 71 and 73 are earmarked for commercial development, further enhancing SPR’s attractiveness for institutional and commercial expansion.
The latest Cushman & Wakefield Q1 2024 Report emphasized Gurugram’s leadership in launching high-end and luxury segments, particularly in SPR’s vicinity, commanding a substantial 61 percent share in Q1.
Aman Sharma, Managing Director of Aarize Group, expressed confidence in SPR’s future, suggesting that it will open up new opportunities and establish higher benchmarks for urban living and business success in Gurugram and surrounding areas.
Real Estate Hotspots Outside SPR
Sectors 77 and 76, located along the Southern Peripheral Road (SPR), have become prominent contenders in Gurugram’s real estate landscape, garnering interest for their carefully designed infrastructure, lush greenery, and proximity to key commercial areas.
With their close proximity to major commercial hubs like DLF Corporate Greens, TCS, the upcoming Amex Campus, and dedicated commercial sectors spanning around 385 acres (Sectors 75 and 74A), this area provides a plethora of amenities.
DLF recently introduced DLF Privana South, a luxurious high-rise project located in sectors 76 and 77. Remarkably, all 1,113 upscale residential units were sold for Rs 7,200 crore in just 72 hours before its official launch.
DLF Privana South is part of the larger integrated township DLF Privana, which spans approximately 116 acres.