The Southern Peripheral Road (SPR) in Gurgaon has rapidly emerged as one of the region’s most active and lucrative micro-markets for real estate, with a remarkable surge in both residential and commercial projects. Since 2022, projects worth a staggering ₹50,000 crore have been launched, and another ₹50,000 crore worth of developments are expected in the next three years. This growth has spurred a sharp increase in property prices along the 16-km corridor, which links Gurgaon-Faridabad Road to NH-48, with prices surging from ₹7,690 per sq ft in 2020 to an estimated ₹18,000 per sq ft by mid-2024. The area has become a magnet for developers, investors, and homebuyers alike, driven by improved infrastructure, strategic location, and increasing demand.
Key Drivers of Growth in SPR
Infrastructure Developments Fuel Price Surge
The exponential growth of Southern Peripheral Road can be attributed to a series of major infrastructure developments. These include road widening projects, the construction of flyovers, and enhanced connectivity to vital corridors such as Golf Course Road, Sohna Road, and NH-48. These upgrades have significantly improved access to key commercial and residential areas, making the region highly attractive to homebuyers and investors.
As Aakash Ohri, Joint MD and Chief Business Officer of DLF Homes, notes, “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.”
Sustained Demand and Price Appreciation
Demand for properties in and around SPR has surged, especially since the second half of 2021. Real estate experts report that transaction volumes and values have risen sharply, signaling a growing appetite for both residential and commercial spaces in the area. Pradeep Aggarwal, founder and chairman of Signature Global, which holds 93 acres of land in the region, explains: “The region has seen sustained sales momentum, with transaction values rising sharply, underscoring strong and consistent demand.”
Signature Global has already developed 2.1 million sq ft in the area and is planning an additional 14.9 million sq ft of projects. With property prices now averaging ₹18,000 per sq ft, Signature Global’s upcoming projects are expected to generate a total sales value of ₹27,000 crore.
DLF’s Premium Projects and Other High-Value Developments
The area has seen high-profile launches from leading developers, including DLF, India’s largest real estate developer. DLF has launched two luxury residential projects in the region, both of which have seen price appreciation since their launch. As Aakash Ohri points out, this growth reflects the area’s increasing appeal to premium buyers and investors.
Among the many developments in the area, the Trump Residences is another noteworthy project located along the SPR belt, adding to the region’s growing list of luxury offerings.
Recent Sales and Market Trends
A recent property launched in Sector 76, located along SPR, exemplifies the region’s booming real estate market. The project, which was initially priced at ₹10,500 per sq ft in 2023, has seen a remarkable appreciation of 64%, with prices now hovering around ₹17,250 per sq ft. This sharp increase further highlights the robust demand for high-quality properties in the area.
Pankaj Bansal, co-founder of Smartworld Developers, notes that “The Gurgaon market continues to attract strong investor interest, and good projects have delivered solid returns in the recent past.”
Summary Table of Key Facts:
| Fact | Details |
|---|---|
| Total Real Estate Investment | ₹50,000 crore launched since 2022; another ₹50,000 crore planned in next three years |
| Price Surge | From ₹7,690 per sq ft in 2020 to ₹18,000 per sq ft in 2024 |
| Key Developers | DLF, Signature Global, Smartworld Developers |
| Signature Global’s Planned Projects | 14.9 million sq ft of new development |
| Trump Residences | Located in the SPR region |
| Sector 76 Price Increase | From ₹10,500 per sq ft to ₹17,250 per sq ft (64% increase) |
| Strategic Location | Links Gurgaon-Faridabad Road to NH-48, improving connectivity |
Quotes from Industry Experts
- Aakash Ohri, Joint MD and Chief Business Officer, DLF Homes:
“Location plays the crucial role in the decision-making when people think about buying a home, and SPR is one of the fastest-growing areas in Gurugram.” - Pradeep Aggarwal, Founder and Chairman, Signature Global:
“The region has seen sustained sales momentum, with transaction values rising sharply, underscoring strong and consistent demand.” - Pankaj Bansal, Co-Founder, Smartworld Developers:
“The Gurgaon market continues to attract strong investor interest, and good projects have delivered solid returns in the recent past.” - Navdeep Sardana, Founder, Whiteland Corporation:
“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.”
FAQ Section
1. Why is the Southern Peripheral Road (SPR) in Gurgaon experiencing such rapid growth?
SPR’s growth is driven by extensive infrastructure improvements, including road widening, flyovers, and enhanced connectivity to key commercial hubs such as Golf Course Road and NH-48. These upgrades make the area increasingly attractive for homebuyers and investors.
2. What is the price trend along the Southern Peripheral Road?
Property prices along the Southern Peripheral Road have surged from ₹7,690 per sq ft in 2020 to an estimated ₹18,000 per sq ft by mid-2024, reflecting a sharp appreciation due to increased demand and improved infrastructure.
3. Which developers are active along the SPR corridor?
Notable developers in the area include DLF, Signature Global, Smartworld Developers, and Whiteland Corporation, all of which are contributing significantly to the region’s growth with luxury and large-scale residential projects.
4. How has Signature Global performed in the SPR area?
Signature Global has launched over 2.1 million sq ft of development in the region and has plans for an additional 14.9 million sq ft. The firm expects to generate ₹27,000 crore from these projects based on current pricing trends.
5. What is the future outlook for real estate in the Southern Peripheral Road area?
With continued infrastructure development and high demand, the SPR area is expected to see sustained growth. Key upcoming projects, including the completion of the Dwarka Expressway and the Rapid Transit System, will further enhance the region’s connectivity and attractiveness, fueling demand from both homebuyers and investors.