The Southern Peripheral Road (SPR) in Gurgaon has become one of the most sought-after real estate micro-markets in the region, witnessing a sharp rise in both residential and commercial developments. Since 2022, real estate projects worth an impressive ₹50,000 crore have been launched along this 16-kilometer corridor, with another ₹50,000 crore expected to be invested over the next three years. This surge in investment has driven significant price appreciation in the area, with property rates jumping from ₹7,690 per sq ft in 2020 to a forecasted ₹18,000 per sq ft by mid-2024.
The rapid growth of the Southern Peripheral Road as a real estate hub is primarily attributed to ongoing infrastructure improvements, strategic location, and an increasing demand for residential and commercial properties. Developers like DLF, Signature Global, and Smartworld Developers are tapping into the area’s potential, ensuring that it remains at the forefront of Gurgaon’s real estate boom.
The Key Factors Behind SPR’s Growth
Infrastructure Enhancements Drive Growth
One of the major factors propelling the real estate growth along the SPR corridor is the improvement in infrastructure. Road widening projects, the construction of flyovers, and enhanced connectivity to key areas such as Golf Course Road, Sohna Road, and NH-48 have made the region more accessible and attractive to homebuyers and investors.
Aakash Ohri, Joint MD and Chief Business Officer of DLF Homes, commented:
“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
Since the second half of 2021, demand for properties along the SPR corridor has surged. This trend is expected to continue, with several developers witnessing sustained sales momentum and sharp increases in transaction values. The area’s price surge, driven by the aforementioned infrastructure improvements, has made it one of the most dynamic residential markets in the National Capital Region (NCR).
Pradeep Aggarwal, founder and chairman of Signature Global, noted:
“Demand for properties has surged in and around SPR, particularly since the second half of 2021. The region has seen sustained sales momentum, with transaction values rising sharply, underscoring strong and consistent demand.”
Signature Global’s Expansion in SPR
Signature Global, which holds a 93-acre land parcel along the SPR corridor, has already launched over 2.1 million sq ft of development and is planning an additional 14.9 million sq ft of real estate projects. The company’s developments are expected to generate significant revenue, with the planned projects projected to generate a total of ₹27,000 crore in sales at an estimated price of ₹18,000 per sq ft.
Trump Residences and Other High-Value Projects
The Trump Residences is one of the high-profile luxury developments located along the SPR belt, further boosting the area’s appeal to high-net-worth individuals and investors. With both residential and commercial projects flourishing, SPR has become a prime location for luxury developments as well.
Investor Interest and Future Potential
The real estate market along the Southern Peripheral Road continues to attract strong investor interest. The completion of key infrastructure projects such as the Dwarka Expressway, SPR, and the Rapid Transit System will significantly enhance connectivity, fueling further demand for residential and commercial properties.
Pankaj Bansal, co-founder of Smartworld Developers, commented:
“The Gurgaon market continues to attract strong investor interest, and good projects have delivered solid returns in the recent past.”
In fact, Smartworld Developers launched a project in Sector 76 along the SPR in 2023 at ₹10,500 per sq ft, which has since appreciated by 64%, with current prices hovering around ₹17,250 per sq ft.
Navdeep Sardana, founder of Whiteland Corporation, also highlighted the long-term potential:
“The real estate market in NCR, particularly Gurugram, is set to reach new highs driven by infrastructure upgrades, rising housing demand, and a vibrant commercial ecosystem.”
Key Highlights of SPR’s Real Estate Market
| Key Insight | Details |
|---|---|
| Total Investment in Projects (2022-2024) | ₹50,000 crore launched, ₹50,000 crore in the pipeline |
| Property Price Increase (2020-2024) | From ₹7,690 per sq ft to ₹18,000 per sq ft |
| Signature Global’s Planned Development | 14.9 million sq ft (expected sales worth ₹27,000 crore) |
| Key Projects | Trump Residences, DLF luxury residential projects |
| Price Appreciation | 64% increase in prices since 2023 launch of projects in Sector 76 |
| Strategic Location | Connectivity to Golf Course Road, Sohna Road, NH-48, Dwarka Expressway |
Frequently Asked Questions (FAQs)
1. What factors have contributed to the growth of the SPR micro-market in Gurgaon?
- The primary factors driving growth include improved infrastructure, such as road widening, flyovers, and enhanced connectivity, along with the region’s strategic location linking key roads like Golf Course Road and NH-48.
2. How much have property prices increased along SPR?
- Property prices along the SPR corridor have increased significantly from ₹7,690 per sq ft in 2020 to an estimated ₹18,000 per sq ft by mid-2024.
3. Which developers are active along the SPR corridor?
- Key developers active along the SPR corridor include DLF, Signature Global, Smartworld Developers, and luxury projects like Trump Residences.
4. What is the expected future growth of the SPR market?
- The market is expected to see continued growth driven by infrastructure projects like the Dwarka Expressway, SPR, and the Rapid Transit System, which will further enhance connectivity and attract both homebuyers and investors.
5. What is the sales potential for Signature Global’s projects along SPR?
- Signature Global’s planned developments along SPR are expected to generate total sales worth ₹27,000 crore, with an average price of ₹18,000 per sq ft.