Once a dusty and underutilized bypass, Gurugram’s Southern Peripheral Road (SPR) has undergone a huge transformation—emerging as the city’s one of the most dynamic real estate growth zones. Market observers say that property values along SPR, spanning across 16 kilometres, have more than doubled in just five years.
Market estimates show that in 2022, there were just three projects launches along SPR while currently the micro-market has 23 ongoing projects, which were launched in the last three years. These projects are expected to deliver around 11,900 residential units by 2029, keeping SPR a prime draw for investors and homebuyers.
Luxury momentum
Backed by over Rs 50,000 crore worth of new residential launches since 2022, a government-approved Rs 750-crore elevated corridor, and a wave of premium projects from top players like DLF, Emaar, Signature Global, M3M, and Tribeca, SPR is rapidly emerging as a luxury real estate hotspot. Major developers are rushing to acquire land and roll out high-end projects, transforming the area into one of the most sought-after investment destinations.
DLF is building one of Gurugram’s largest integrated townships across 116 acres along SPR, under the “DLF Privana” ecosystem. Three projects within this mega development include Privana West, Privana South, and Privana North.
DLF’s newly launched Privana North located along SPR in Gurugram sold 1,164 luxury units including 1,152 four-bedroom apartments and 12 penthouses worth approximately Rs 11,000 crore, within a week of its Q1 FY25 launch, underscoring the surging demand.
Similarly, the launch of Trump Tower Residences in Sector 69 saw a complete sell out of all 298 units, valued at Rs 3,250 crore, on the first day of booking, underscoring the rising appetite for ultra-luxury housing along the corridor.
This was the second Trump Branded Homes launched by Tribeca Developers in Gurugram in association with M3M. The first Trump Tower, in Sector 65, which was launched in 2018 at Rs 13,500 per square feet, is now trading at Rs 40,000 per sq. ft.
Price appreciation
According to data by PropEquity, between 2020 and mid-2024, average apartment prices along SPR surged by 125 percent, rising from Rs 7,690 per sq. ft. in 2020 to approximately Rs 17,300 per sq. ft. by mid-2024. This makes SPR one of the fastest-appreciating micro-markets in the city.
The luxury segment, in particular, has seen a sharp upswing, with ANAROCK Research noting 70–85 percent price appreciation in Gurugram’s premium housing over the past five years. Despite a high volume of new inventory being introduced, absorption has remained robust, indicating strong, sustained demand from both end-users and investors across the corridor.
“With Gurugram experiencing an infrastructure boom, the Southern Peripheral Road is rapidly emerging as a key growth corridor in the city. It is attracting premium real estate development, driven by strong connectivity and growing demand from both corporate and residential sectors. At Tribeca, we launched Trump Residences Gurgaon and sold out within five hours. For quality developments in prime locations, buyer conviction remains exceptionally high,” Rajat Khandelwal, Group CEO, Tribeca Developers, told Moneycontrol.
Tribeca Developers, founded by Kalpesh Mehta, has the exclusive India rights to the Trump brand.
Real estate brokers said that sectors along SPR have seen a clear shift in positioning over the past few years, with rising prices and upscale project launches driving a move from mid-income to premium and luxury housing.
According to Magicbricks data for Jan–Mar 2025, sector 69 along SPR now commands an average rate of Rs 13,892 per sq. ft. Average prices in sector 71 range between Rs 10,500 and Rs 18,000 per sq. ft. Similarly, Sector 72 has firmly established itself in the super-luxury bracket, with average prices oscillating around Rs 19,000 per sq. ft.
This trajectory reflects not just price growth but a broader evolution in buyer profile and demand patterns across the corridor.
Infrastructure push
The transformation of Gurugram’s SPR is being anchored by major infrastructure upgrades, which include a Rs 750-crore, 5.5-km elevated corridor approved by the Haryana government. Connecting Vatika Chowk to NH-48 via the CPR cloverleaf, the project is designed to provide a signal-free link that integrates the Dwarka Expressway with the Delhi–Mumbai Expressway.
Experts said that future-ready infrastructures, including rapid metro, Regional Rapid Transit System (RRTS), Skybus projects, and the Mumbai-Delhi Bullet Train project, further elevates the area’s appeal.
Sam Chopra, president and India head, eXp Realty India, said that the Southern Peripheral Road is driving an unprecedented wave of residential and commercial growth backed by rapid infrastructure push.
“The SPR is seamlessly connected to NH-48, the Delhi-Mumbai Industrial Corridor, Delhi-Mumbai Expressway, and key arterial roads, including the Dwarka Expressway. The region is also evolving into a major business destination, surrounded by corporate giants like American Express, TCS, PepsiCo, and DLF Corporate Greens, with the upcoming 1,000-acre HSIIDC Global City set to turbocharge the ecosystem,” he said.
The flip side
Though the SPR micro-market offers boasts of luxury housing projects, good connectivity and robust price appreciation, flooding and drainage issues remain a challenge in the region.
Lingering waterlogging affects sectors 68–75 during monsoons, due to inadequate storm-water infrastructure. Market observers said that while a drainage system is under construction; its completion is likely only by August 2026.
SPR has witnessed multiple sinkholes and road collapses in last few years indicating unresolved safety hazards.