SPR on its way to becoming key realty hub in Delhi-NCR

Booming real estate corridor

- Leena Dhankhar

GURUGRAM: Once a quiet, dusty stretch, Gurugram's Southern Peripheral Road (SPR) has undergone a transformation over the past decade, becoming one of Delhi-NCR's emerging real estate corridors. Analysts say housing demand in the area has jumped six-fold in the past five years, with residential launches surging by 584% and property prices rising by 125%.

With 23 ongoing projects expected to deliver around 11,900 residential units by 2029, SPR remains a prime draw for investors and homebuyers, according to online analytics platform PropEquity.

"SPR has witnessed a remarkable transformation in the past five years," said Samir Jasuja, founder and CEO of PropEquity. "Between 2020 and 2024, housing supply along the corridor reached 14,224 units, with 10,101 units absorbed. Even in the first quarter of 2025, despite market fluctuations, 516 units were launched and 139 were sold." Property prices tell a similar story: the weighted average price for new launches on SPR rose from ₹7,693 per sq ft in 2020 to ₹17,123 per sq ft by the end of 2024, he said.

An analysis by real estate platform Square Yards noted that SPR, after the Dwarka Expressway, has solidified its status as a key realty hub, thanks largely to its connectivity to Manesar and South Delhi. This has spurred the development of upscale residential projects, retail hubs, and commercial centres.

"The stable repo rate has also boosted confidence among investors and homebuyers," said Navdeep Sardana, founder of Gurugram-based Whiteland Corporation.

"With the completion of SPR, the Dwarka Expressway, and the Rapid Transit System, connectivity will further improve, driving demand. Expansion of IT parks and co-working spaces will also attract a larger workforce, fueling demand for premium housing."