SPR (Southern Peripheral Road) in Gurugram is emerging as one of the fastest growing destinations especially for Commercial developments along with Office spaces, Residential and Real Estate as a whole. As the stretch of SPR spans from Faridabad side linking Golf course extension road, Sohna Road, NH-8 and merging with the NPR ( Northern peripheral road), it covers several important sectors in its vicinity which are 48 to 50, 55 to 75 and 79. With easy accessibility and traffic dispersion leading to these sectors through SPR, Commercial along with Residential developments are taking place on this major route.
The Commercial developments, offices, IT parks, Housing, Infrastructure, and amenities are flourishing along the SPR, the following are a few examples of the upcoming projects.
1) Genpact IT park campus in sector-69.
2) BMW group training centre in sector-75
3) DLF- IT hub project
4) Quoretech BPO & Commercial IT Park
5) two commercial projects of M3M etc.
The stretch of SPR which meets the National Highway NH-8 coming from above is newly built and fully functional so that people can now drive along this stretch of road to reach NH-8 within no time. This improved easy accessibility to sectors-69 & 70 where most of the projects by major developers like Tulip are located, is going to result in property price appreciation with high returns in this area.
One of the major consequences of the commercial and residential hub expansion along the SPR is the generation of demand for Rental Housing. As the area along the SPR flourishes extensively, the demand for Rental Housing is also going up as many people from far off places who converge to their work offices in Gurgaon prefer to stay on rent with all available amenities and don’t prefer to go for the option of buying necessarily. This is resulting in an upsurge of demand for Rental housing along the SPR vicinity.
As the commercial and residential developments resonate with each other, the demand for residential projects in the vicinity of SPR is further growing due to the fast development of commercial projects. The buyers should invest here due to the availability of multifarious options both in ‘Ready to move in’ as well as under construction housing & in Commercial, office spaces. The sectors along the SPR have a plethora of Group housing projects on offer from major developers which are ideal for buying and investment. A number of residential projects are under construction in the sectors along the SPR and investments in these are going to bring in good returns.
Succinctly, the surrounding areas in the vicinity of the whole SPR in Gurgaon have become the major hub for buyers and investors because of fast developing infrastructure and amenities, and with several major Residential and commercial developments taking place in these areas. This high in demand Realty hub along the SPR route is due to easy accessibility from all directions, connecting important locations with less travel time. Looking at the present opportunities and the rate at which this tremendous development is taking place along SPR, the opportunities are going to multiply manifold both in commercial and residential and the Real estate as a whole.
By Parveen Jain, Vice Chairman NAREDCO & CMD Tulip Infratech
(Disclaimer: The views expressed by the author is his own. AT takes no responsibility for the same.)