Delhi-NCR witnessed a new supply of 3,614 residential units in the first quarter of 2024, as per a report by Cushman & Wakefield. However, it was Gurugram which dominated supply with 44% share primarily concentrated along the Southern Peripheral Road (SPR) also known as Golf Course Extension Road. Of these numbers, the share of the luxury segment was a whopping 61%.
Gurugram, often dubbed the ‘Millennium City’, is witnessing an increase in real estate demand. However, the sub-region that lies at the heart of this transformation is the Southern Peripheral Road (SPR), also known as Central Peripheral Road. This corridor has emerged as Gurugram’s premier sub-city, drawing both investors and homebuyers alike with its promise of lucrative returns and unparalleled connectivity.
Ashwani Kumar of Pyramid Infratech says, “SPR’s strategic location is one of the key USPs as it seamlessly connects with major highways such as the Delhi-Mumbai Industrial Corridor (DMIC) and the Delhi-Mumbai Expressway. This strategic positioning not only ensures easy access to the bustling metropolis of Delhi – NCR but also cements SPR’s status as the fastest-growing realty hub. Due to the rapid growth seen in the realty market of new sectors along this corridor, the SPR offers a promising appreciation of the investment. This trend is reflected in the instant spike witnessed in the demand for luxury homes in the region. Infrastructure development, enhanced connectivity, and high ROI, along with the availability of luxury projects, bode well for realty investment in the new sectors of the SPR corridor.”
The proximity to the Indira Gandhi International Airport also adds to its popularity, making it an ideal destination for businesses and residents seeking convenience and connectivity.
Ankit Gupta, director, Reach Group, says, “SPR empowers both homebuyers and investors with a spectrum of opportunities. Discerning homebuyers can find their perfect fit among a portfolio of premium residences and ultra-luxury developments. Investors, meanwhile, unlock long-term value with these strategically situated properties, which include commercial developments. The corridor’s proximity to industrial hubs and employment centers ensures a steady stream of rental income, making SPR an undeniably attractive proposition for both capital appreciation and consistent returns.”
Sachin Gawri, founder and CEO of RISE Infraventures, says, “One cannot overlook the robust infrastructure support that underpins SPR’s meteoric rise. The region has well-planned roads, efficient public transportation networks, and an effective social infrastructure comprising schools, hospitals, and recreational facilities. This infrastructure backbone not only enhances the quality of life for residents but also lays a solid foundation for sustained real estate growth.”
Besides housing, the region is seeing that the Grade A office spaces are in high demand, with tenants increasingly prioritizing sustainability and green building standards. This commercial activity not only augurs well for investors eyeing rental income but also underscores SPR’s emergence as a dynamic business district on par with global standards.
Sehaj Chawla, MD, Trevoc, says, “The Southern Peripheral Road corridor, with its strategic location, planned connectivity, robust infrastructure support, and commercial and luxury residential projects, has emerged as a profitable investment destination, catering to affluent buyers. The development along the corridor boasts projects with premium amenities, transforming the region into a sought-after destination. Thus, the gamut of property options in the area drives the economic growth of the region and positively impacts price appreciation, offering diverse investment opportunities that investors simply cannot afford to overlook.”
As the market witnesses a surge in pricing and positive sentiments, now is the opportune moment to capitalize on SPR’s growth trajectory and unlock unparalleled returns on investment.
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