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A fast-growing realty destination of the NCR

A fast-growing realty destination of the NCR

SPR — which was planned to ease traffic between the two NCR cities of Gurgaon and Faridabad — is now fast becoming home to various high-end residential and commercial projects.

Gurugram, a satellite city, has turned into a self-sustained ecosystem within a span of about two decades.

The region is a good example of how an agrarian-dominant locality can be swiftly turned into a modern-day city development.

Over a period of time, various pockets have been developed, some of which have become landmarks with others turning out to be growth vectors.

At present, one of the most prominent growth vectors in Gurugram is Southern Peripheral Road (SPR) region. SPR originates from Gurgaon-Faridabad Road near Ghata Kanarpur and intersect NH-8 near Kherki Dhaula at Sohna Road, on Badshahpur Chowk.

“Though SPR is the smallest of all corridors, it spans 11 sectors — from Sector 68 to Sector 75A. The government named this stretch as National Highway 248. The most prominent intersections are National Highway 8, Badshahpur Road, Golf Course Road, and Golf Course Extension Road in Gurugram. All these roads lead to prominent and self sustaining ecosystem,” Amit Chawla, senior associate director (valuation and advisory services) at Colliers International India, said.

SPR — which was planned to ease traffic between the two NCR cities of Gurgaon and Faridabad, apart from decongesting the traffic around IFFCO Chowk — is now fast becoming home to various high-end residential and commercial projects. It should, however, be noted that some patches of SPR near NH-8 are currently not acquired. Thus, the current SPR route is not fully developed and operational.

“Once SPR is complete, it will provide seamless connectivity from NH-8 to Faridabad. This will have a direct impact on various real estate projects, residential and commercial, located in the vicinity. SPR is the backbone of the local economy,” Chawla says.

Whatever be the case, property developers say that the SPR is amongst the fastestgrowing realty destinations of the Delhi NCR.

“It is actually ‘Extended Golf Course Extension Road’ and has some outstanding real estate projects. It connects all the important roads in the vicinity like Golf Course Road, Sohna Road, NH-8, and Dwarka Expressway. Many families have moved into the surrounding residential projects with latent demand for retail, dining, and entertainment facilities ready to be tapped.

“More commercial and residential projects are coming up in this region which will be easily accessible from SPR. In fact, the forthcoming rail-based regional rapid transit system at Kherki Daula will boost the economic importance of the region, making it one of the most prominent locations to invest,” Raj Singhal, CEO, Elan Group, said. Elan Group is coming up with an iconic retail destination at Sector 70 in Gurugram.

Ashish Sarin, director and CEO, Alpha-Corp, says: “SPR is a major infrastructural project which will provide excellent connectivity to Faridabad-Gurgaon Road, Golf Course Road, Sohna Road, and NH-8. It is also drawing the attention of end users and investors to the properties in New Gurgaon, as it boosts connectivity.”

Source TOI

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Axiom Landbase

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