Millennium City, Gurugram is witnessing remarkable growth in the real estate sector, owing to the shift of buyers towards spacious and luxurious living spaces. With the advent of various infrastructural developments, the city has become the newest hotspot for both investors and homebuyers, owing to its unparalleled connectivity, luxurious housing options and promising prospects. Meanwhile, the Southern Peripheral Road, the heart of Gurugram, has grown from a mere transit corridor to one of the most sought-after destinations in the National Capital Region.
The Magic Brix Prop Index Report 2024 highlights 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, driven by the proximity of sectors 68, 69, 70, and 71. A prestigious real estate hub.
“Strategically positioned as the hub of Gurugram, the Southern Peripheral Road (SPR) has seen remarkable growth in recent years,” says Devendra Agarwal, Co-Founder and Joint Managing Director, Signature Global (India) Ltd. Thanks to its strategic location and connectivity, SPR plays an important role in boosting property prices in the region by providing seamless connectivity to key areas of Gurgaon. SPR's potential as a thriving realty hub is unparalleled , exemplified by the growing demand from discerning home buyers seeking quality and convenience in areas such as Sector 71 near SPR.
Along with major new developments like the Elevated SPR and Cloverleaf at Vatika Chowk, infrastructure to ensure smooth traffic flow from Sohna Elevated Road and SPR to Dwarka Expressway, Delhi-Mumbai Expressway and NH48 Improvements are guaranteed. Additionally, the upcoming jungle safari adds to the investment appeal of the location. SPR is strategically located as the hub of Gurugram, with an upcoming metro station planned in Sector 72A and various multinational brands setting up office spaces and retail centers in the area, which is its Shows ability. According to recent data and reports, property prices along SPR have increased by nearly 80% in the last five years, making it an ideal destination. The upcoming infrastructure and development promises a bright future for this location.
Gurpal Singh Chawla, Managing Director, TREVOC, says, “With its planned connectivity, excellent location, strong infrastructural support, and luxury real estate projects, the SPR corridor has emerged as a lucrative investment destination for 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. We envision the SPR to underpin the region's growth, offering diverse investment opportunities with outstanding returns.”
Thus, the Southern Peripheral Road offers numerous reasons to invest in properties in the region. As a boon to residents, businesses and commuters, SPR is poised to create economic growth opportunities through investment and accelerating Gurugram's real estate development.