Sun. Jun 16th, 2024

The Southern Peripheral Road (SPR) in Gurugram is rapidly transforming into one of the most coveted real estate destinations in the National Capital Region (NCR). Spanning 16 kilometers, SPR has become the newest hotspot for both investors and homebuyers, drawn by its unparalleled connectivity, luxurious living options, and promising prospects.

Unmatched Connectivity: The Heart of SPR’s Appeal

One of the most compelling reasons for SPR’s rise as a real estate hub is its unmatched connectivity. This 90-meter-wide road serves as a critical artery linking various key destinations within Gurgaon and beyond. According to the India Real Estate Report by Knight Frank, SPR connects Gurgaon’s prime sectors with South Delhi through MG Road, Faridabad Highway, and the elevated road between Dwarka and Sohna expressways. This strategic connectivity ensures smooth traffic flow and easy access to major routes like the Golf Course Road, Golf Course Extension Road, and NH-8.

Moreover, SPR’s connection to NH-8 facilitates direct access to Jaipur, while its proximity to the Sohna Road enhances connectivity to the Delhi-Mumbai Industrial Corridor. Additionally, the corridor provides seamless access to the Indira Gandhi International Airport, making it an ideal choice for frequent travellers and businesses seeking well-connected locations. The integration of metro stations, particularly from the Millennium City metro station to Gurgaon sectors 71 and 72, further enhances public transportation options, reducing reliance on private vehicles and mitigating traffic congestion.

Premium Living Spaces: Catering to Discerning Homebuyers

SPR’s real estate landscape is marked by a surge in premium residential projects, catering to the growing demand for premium living spaces. According to the Cushman & Wakefield Q1 2024 Report, the corridor witnessed the launch of 3,614 new units in the first quarter of 2024, with the premium segment commanding a remarkable 61% market share. This surge underscores the region’s appeal among discerning homebuyers seeking quality and convenience.

Proximity to sectors like 68, 69, 70, 70A, 71, 72, 73, 74, 74A, 75, 75A and 76 has further fuelled SPR’s attractiveness. Esteemed developers have played a pivotal role in transforming SPR into a hub of luxurious & premium residential and commercial excellence.

Robust Infrastructure Development: Shaping the Urban Landscape

The robust infrastructure development along SPR is another key factor driving its real estate boom. The road’s strategic planning and development have created a well-rounded urban ecosystem that enhances liveability and productivity. Wide, well-maintained roads, state-of-the-art amenities, and ample green spaces contribute to SPR’s appeal as a modern urban corridor.

Further planned infrastructure projects, such as the upcoming metro line running parallel to SPR, promise to further elevate its status as a prime real estate destination. The Gurgaon-Manesar Masterplan designates sectors 71 and 73 for commercial development, adding to SPR’s appeal for institutional and commercial growth. This comprehensive development plan positions SPR as a lucrative investment destination, offering a blend of residential comfort and commercial viability.

Economic Prosperity: Job Creation and Ecosystem Development

SPR’s impact extends beyond real estate to drive economic prosperity through job creation and ecosystem development. The development and operation of residential and commercial projects along SPR have generated direct employment opportunities in construction, property management, hospitality, and retail sectors. Moreover, SPR has catalysed the growth of ancillary industries and services, ranging from transportation and logistics to healthcare and education.

Ravi Aggarwal, Co-founder & Managing Director, Signature Global (India) Limited said, “The Southern Peripheral Road (SPR) is undergoing significant new developments, including the elevated SPR and the cloverleaf at Vatika Chowk. These enhancements will ensure smooth traffic flow from the Sohna elevated road and SPR to the Dwarka Expressway, the Delhi-Mumbai Expressway, and NH48, thanks to the entire loop having controlled access for traffic movement. Additionally, the upcoming jungle safari further enhances the investment appeal of this location.

SPR well positioned as the heart of Gurugram, an upcoming metro station planned in 72 A, and various multinational brands across the segments are setting their office space or retail centres in the location indicating its potential. Besides, a proposed metro line running along SPR from Sector 55/56 to Vatika Chowk, featuring five new metro stations at Sector 56, Sushant Lok, Sushant Lok Phase-3, Rosewood City, and Vatika Chowk, also contributes to making this an ideal investment destination. Property prices are expected to surge around SPR, with sectors nearby such as 71, 72, 75, and 76 experiencing the highest appeal among homebuyers and investors.”

He further added, “More than just a transportation link, SPR is the backbone of Gurugram’s urban expansion. The corridor’s development showcases strategic urban planning, meeting the city’s growing demand for integrated living and working spaces. The ongoing projects and infrastructural enhancements are poised to make SPR a central hub for Gurugram’s economic growth. Investing in SPR today is like tapping into Gurugram’s future. The corridor’s blend of residential, commercial, and industrial spaces ensures continuous demand and rising property values. With the government’s strong push for infrastructure and connectivity, SPR is set to become one of the most coveted real estate destinations in the NCR region.”

Kushagr Ansal, Director of Ansal Housing said, “Southern Peripheral Road is rapidly becoming the heart of Gurugram’s real estate boom. Boasting excellent connectivity, modern infrastructure, and proximity to key commercial hubs, it attracts both investors and homebuyers, transforming the area into a sought-after destination for premium residential and commercial developments.”

By Prabhat

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