Millenium City, Gurugram, is witnessing remarkable growth in the real estate sector, driven by discerning buyers’ shift towards spacious and opulent living spaces. With the advent of various infrastructure developments, the city has become the newest hotspot for both investors and homebuyers, drawn by its unparalleled connectivity, luxurious living options, and promising prospects. Amid this, Southern Peripheral Road, the heart of Gurugram, has risen from a mere transit corridor to one of the most coveted destinations in the National Capital Region.
The Magic Bricks Prop Index Report 2024 indicates how the Southern Peripheral Road has become a focal point for real estate development due to its strategic location and connectivity. With 3,614 new unit launches in Q1 2024, the luxury segment dominated demand in the first half of the year, fuelled by proximity to sectors like 68, 69, 70, and 71. Leading developers continue to invest in SPR, contributing to its transformation into a coveted real estate hub.
Devender Aggarwal, Co-founder & Joint Managing Director, Signature Global (India) Ltd. says, “Strategically positioned as the heart of Gurugram, the Southern Peripheral Road (SPR) has witnessed remarkable growth in recent years, thanks to its strategic location and connectivity. The SPR plays a crucial role in bolstering property prices in the region by providing uninterrupted connectivity across prime localities of Gurgaon. SPR’s potential as a thriving realty hub is unmatched, exemplified by the growing demand from discerning homebuyers seeking quality and convenience in sectors like Sector 71 near SPR.
With significant new developments underway, such as the elevated SPR and the cloverleaf at Vatika Chowk, infrastructure improvements are set to ensure smooth traffic flow from the Sohna elevated road and SPR to the Dwarka Expressway, the Delhi-Mumbai Expressway and NH48. Additionally, the upcoming jungle safari further enhances the investment appeal of this location. SPR is strategically positioned as the heart of Gurugram, with an upcoming metro station planned in Sector 72A and various multinational brands establishing office spaces and retail centers in the area, indicating its potential. As per recent data and reports, property prices surged approximately 80% along the SPR in the last five years, making it an ideal destination. Upcoming infrastructure and development promise a great future for this location.
Gurpal Singh Chawla, Managing Director of TREVOC, says, “With its planned connectivity, excellent location, strong infrastructure support, and luxury real estate projects, the SPR corridor has emerged as a profitable investment destination catering to affluent buyers. Wide, well-maintained roads, state-of-the-art amenities, and ample green spaces in the region further contribute to SPR’s appeal as a modern urban corridor. With more development happening in the future, we envision SPR strengthening the region’s growth, offering diverse investment opportunities with great returns.”
Thus, the Southern Peripheral Road offers a myriad of reasons to invest in properties in the region. As a boon for residents, businesses, and commuters, SPR is slated to create economic development opportunities by drawing in investments and accelerating Gurugram’s real estate growth.
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