Gurgaon, an integral part of National Capital Region sets its way to fulfil hopes of home buyers, investors, builders and dealers. The Millennium City has several creamy locations where property enthusiasts have invested a good amount. One of such locations includes Southern Peripheral Road, an important link between Delhi-Gurgaon Expressway, Faridabad-Gurgaon Road and Golf Course Extension Road. However, people involved in properties at this location were in worries due to the incomplete construction of the road. Since Litigation and land acquisition issues hit 16 kilometres long SPR, enthusiasts who have invested in the projects in the area were in a quandary. Well, the good news is that HUDA has put the worries away by commencing the work on SPR last month. The remaining work on the road has been completed and the move by the government fixes the connectivity problem in the new sectors including Sector 58 to Sector 80. Also, the traffic on National Highway 8 is expected to be reduced.
The location is not only pleasing for the involved groups but a hot destination for market watchers as well. SPR is gaining momentum owing to the convenience it provides in terms of excellent connectivity. It makes it easy to hit the existing commercial destinations, the upcoming metro line and Gurgaon-Faridabad Road. Furthermore, the extension of SPR into six-lane expressway is another reason that makes the entire area an excellent Gurgaon property. Also, the development in the location pushes the arrival of more buyers and investors. The stretch in New Gurgaon-Sohna Master Plan 2031 is being focused which is going to benefit the real estate sector in the coming future.
In this context, Rajeeb Dadh, AVB Sales & Marketing Tata Housing Development Company Limited says “with a slew of entertainment facilities, and proposed mega projects in the vicinity, this area is emerging as a destination for luxury”
According to the Director of Straightway Propmart states “the constant constructive steps by the Haryana Government are taking the SPR and the entire state towards growth and development. The completion of remaining work on Southern Peripheral Road is one of the moves that drive passion in property seekers and investors to look into the properties in the area. Also, sectors and developments in the location will get a hike in various terms. The direct connectivity from Sohna Road to NH-8 will let people bypass the long route and traffic. People coming from Faridabad need not target Rajiv Chowk first to hit the NH-8. The projects across the stretch are expected to include in the high-end properties in Gurgaon”.
“Gurgaon is already a hub of residential and commercial projects and countless firms. The fixation of SPR issue will accentuate the arrival of more people in the form of builders, buyers and investors”, he added.
Location of the area is a targetable destination as it offers sound connectivity across all the important places in the NCR including Mehrauli to Nh-8 along IMT, Manesar. There is also an easy accessibility to Delhi and other connected areas. Moreover, sectors nearby SPR include Sector 69 to Sector 75 that are welcoming numerous new projects from reputed builders. 30 projects in the location are under construction while 15 are available for move-in.
Owing to the excellent livability and connectivity, renowned builders including M3M, Ireo, Unitech, Emaar MGF, Raheja, DLF, Tulip Group, BPTP and Tata Housing have brought several projects at prices that suit the budget of buyers. There is something for everyone as the projects settle in the area consist of studio, 1bhk, 2bhk, 3bhk, 4bhk apartments and penthouses of which 3bhk units are in large number. The availability of extensive housing pulls a good number of buyers in the area.
In the area, forty-four projects are in developing state while total 15,000 units have been supplied. Also, since the area is not completely ready and is in progress, it offers lower prices of abodes as compared to other developed locations like Golf Course Extension Road and Sohna Road.
Pricing Trends and Projects in the Area
CEO and Founder of PropEquity, Samir Jasuja says “Average price for SPR is Rs. 6,160 p sq ft — much cheaper than Sohna Road (Rs. 9,000 p sq ft) and Golf Course Extn Road (Rs. 7800 p sq ft). SPR enjoys excellent connectivity to Sohna Road — a hub of commercial as well as retail real estate development. Also, it is considered an affordable alternative to markets like Sohna Road and Golf Course Extn Road.”
Brijesh Singh explains “many of the projects listed on Straightway Propmart across the stretch lie between Rs. 30 lakh to Rs. 80 lakh, some fall under the pricing ranging from Rs. 80 lakh to Rs. 90 lakh and the rest are above 90 lakh. Some luxury residential projects are also present across the road.”
“Residential projects by esteemed builders at comparatively lower prices than other locations in the city affirm high demand of SPR in future” he adds.
Buyers looking for a 2bhk residential apartment can fix a budget ranging from Rs. 21 lakh – Rs. 1.55 crore, for a 3bhk budget range, could be Rs. 75.8 lakh to Rs. 4.8 cr. and for 4bhk, the price range is Rs. 1.5 crore to Rs. 8.2 crore. In this way, the plenty of houses is in budget range for buyers from all categories.
Projects by some of the reputed builders include Today Royal Elegancia in Sector 73, Spaze Privy Avante in Sector 69, Unitech Vistas and Unitech Southpark in Sector 70. Sector 71 offers high-end projects including Unitech Alder Grove and Unitech Espace Premiere Villas.
“There is potential for investment and residential purposes owing to this enhanced connectivity. The scheduled infrastructure projects in Gurgaon will further boost the value of properties in the adjoining areas” says Rajeeb Dadh, AVB Sales & Marketing Tata Housing Development Company Limited.
Samir Jasuja says “However, these infrastructure initiatives are futuristic in nature. Considering bearish market sentiments, one should have a decent time horizon i.e. at least 5-6 years to invest in SPR”.
According to real estate experts and market watchers, the SPR stretch is a Gurgaon property that stands with a promise for a bright future after completion of construction of the on-going projects.