Gurgaon is expanding by leaps and bounds. To meet the ever-increasing affordable housing demand, the city has been stretching itself in all directions lately. And this has given birth to a promising location in the city which is the Southern Peripheral Road (SPR).
What Is Southern Peripheral Road?
As per Gurgaon Manesar Urban Complex 2031 Masterplan, the present Golf Course Extension Road, Badshahpur Chowk to NH8 are together called Southern Peripheral Road. It is planned to be 90-meter wide with 30-meter green belt on either side.
The most affected stretch of SPR is between sectors 62 and 69. However, Southern Peripheral Road is way more than just a road. Over the past couple of years, the name resounds with an integrated development of a mix of projects ranging from commercial, residential and retail sectors that are still at their budding stage.
SPR Real Estate State
As per a recent report, SPR has high vacancy levels and faces stiff competition from adjoining micro markets of Sohna Road and parts of NH-8 owing to their self-sustainability and supporting infrastructure. However, leasing activity in this region is expected to pick up in the future due to the following factors:
- Quality of available real estate supply
- The flexibility of landlords to offer affordable deals
- Developers’ effort to structure, competitive deals,
- Connectivity with various pockets of Gurugram
- The proposed metro link connecting Huda City Centre to Manesar along the SPR stretch in Phase II
No wonder, Gurgaon SPR has attracted bigwigs like DLF, Unitech, TRIL (Tata Realty), Vatika, and Spaze Group as few of its prominent developers in the commercial real estate. In the residential segment, the top developers are Tata Realty, Paras, and Tulip Group amongst many others.
In SPR market, average capital values range from Rs. 5,500-8,000 per sq ft. The location is home to both mid to high-level options with premium and luxury housing also available. Here are some of the major housing projects:
- Tata Housing Piramanti
- M3M Sierra
- Mahira Homes
- Supertech Azalia
- Pareena MI Casa
- Paras Irene
- BPTP Astaire Gardens
- DLF Alameda
- Signature Global Andour Heights
As of now, multifarious options, both in ‘ready-to-move-in’ as well as under construction housing, are available. Several realty experts believe that buyers and investors wishing to buy property in Gurgaon should not overlook Southern Peripheral Road housing projects as they are expected to give a good return in future.
Disclaimer: Opinions expressed in the article are completely of the author alone.