Gurgaon: Five years ago, Southern Peripheral Road (SPR) was largely seen as a transit corridor — a 16-km stretch connecting Golf Course Extension Road, Sohna Road and NH8. Today, it has emerged as one of Gurgaon’s fastest-growing residential markets, with average property prices surging 160% in five years amid a wave of infrastructure investments and premium housing launches.According to market estimates by leading property consultancies, average residential prices along SPR have climbed to around Rs 16,249 per sq ft, registering an 18.4% year-on-year increase. Developers — including DLF, Godrej Properties, Whiteland Corporation, Signature Global and Central Park — have launched a mix of luxury, premium and mid-income projects, attracting both investors and end-users.Industry experts attribute the corridor’s rise primarily to a robust infrastructure pipeline. Key projects include a Rs 755-crore elevated corridor between Vatika Chowk and NH8, targeted for completion by 2027, and the widening of the 6-km Vatika Chowk-Ghata stretch into an eight-lane carriageway. The proposed 36-km metro corridor from Sector 56 to Pachgaon — estimated to cost Rs 8,500 crore and featuring 28 stations — is expected to significantly improve connectivity between SPR, Dwarka Expressway and the Manesar industrial region.The transformation is already visible on the ground. In 2021, Bengaluru-based software architect Radhika Menon purchased a 1,650-sq-ft apartment on SPR for Rs 1.05 crore after studying the proposed metro alignment and future infrastructure plans. At the time, many investors preferred Dwarka Expressway. Today, comparable units in her society are valued at nearly Rs 1.8 crore, translating into an unrealised gain of around Rs 80 lakh. The emergence of office developments, retail centres and improved road infrastructure has further enhanced the area’s appeal.A similar trend is evident among end-users. Retired Delhi-NCR residents Arvind and Sunita Khanna purchased a 2,100-sq-ft apartment in 2022 for Rs 1.9 crore after evaluating multiple locations across Gurgaon. With new healthcare facilities, retail options and improved road connectivity coming up around the corridor, the couple says SPR has evolved into a well-rounded residential neighbourhood. Their apartment is now quoted at over Rs 2.8 crore, reflecting appreciation of nearly Rs 85 lakh within a relatively short period.Developers see these examples as indicators of a broader shift in buyer preference.Signature Global founder and chairman Pradeep Kumar Aggarwal told TOI, “SPR has firmly established itself as one of Gurgaon’s most dynamic growth corridors, supported by strong infrastructure development and rising demand for premium housing.” The company has announced over 17.8 million sq ft of saleable and leasable area in the corridor, including its Cloverdale SPR project and the recently unveiled Tonino Lamborghini Residences.“The corridor has evolved from being a connectivity link to becoming a complete residential and commercial ecosystem. Buyers today are looking at long-term liveability, and SPR offers that combination of infrastructure, social amenities and future connectivity,” Aggarwal added.Another city-based developer said the strong response to projects in the micro-market reflects growing buyer confidence. “The infrastructure upgrades underway are creating a compelling value proposition for both end-users and investors. SPR is increasingly emerging as a preferred destination for premium housing in Gurgaon,” the spokesperson said.NAREDCO NextGen NCR president Siddharth Jain said, “Beyond real estate appreciation, the corridor has emerged as a catalyst for Gurgaon’s overall urban expansion, supporting residential, commercial and retail development while enhancing regional connectivity. SPR is contributing significantly to economic activity, job creation and infrastructure growth, reinforcing Gurgaon’s stature as a leading business and residential hub.”With the metro proposal advancing, major road upgrades underway and branded residential developments entering the market, industry observers believe SPR has moved beyond the ‘emerging corridor’ tag. Instead, it is increasingly being viewed as one of Gurgaon’s most established growth engines, where infrastructure-led development is translating into both lifestyle improvements and significant capital appreciation.
