Connecting 3 key roads around Gurugram with NH-8, Northern Peripheral Road and Southern Peripheral Road have registered rapid development in residential and commercial projects and are now counted among its prime investment corridors.
The areas surrounding the place where Southern Peripheral Road (SPR) and Northern Peripheral Road (NPR) meet at NH-8 in Gurugram are now being counted among the prime realty hotspots for investment.
Major areas close to NPR are Sectors 99-112 and 37D, while Sectors 58-63, 68, 78-81, 84, and 85-86 and around SPR. Once both NPR and SPR become operational, demand for housing and commercial space will multiply and we can expect phenomenal appreciation in property rates.
In terms of forthcoming world-class infrastructure, these areas will also experience an increased demand as a Metro link connecting Huda City Centre to Manesar has been planned along the SPR stretch in Phase II.
As per existing connectivity plan, these areas also join the most important roads of Gurgaon like Golf Course Road, Sohna Road, NH-8, and Dwarka-Gurgaon Expressway. For example Southern Peripheral Road is a 16kmlong route that originates from Gurgaon-Faridabad Road near Ghata and meets NH- 8 near Kherki Dhaula.
The route, once operational, will ease access to Faridabad through NH-8 as this road bypasses Mehrauli-Gurgaon Road and IFFCO Chowk. Also, the completion of the road would improve connectivity between Golf Course Road, Faridabad Road, Sohna Road, and NH-8.
The new real estate zone along NPR and SPR connecting NH-8 has participation from major developers who are building housing and commercial projects along with other social infrastructure. As soon as the roads at this location become fully functional, demand for housing, commercial space, offices, entertainment hubs, sports facilities, educational institutions, will hit the roof, with an attendant appreciation in rates.
This increasing demand in realty projects along the both sides of NPR and SPR route is due to easy accessibility from all directions, connecting important locations with less travel time.
Getamber Anand, CMD of ATS Group, says: “Physical infrastructure, landscaping, and other amenities are being built and will further develop once NPR and SPR become functional. The areas here will become very important from the realty point of view, as they will form a junction of three major highways —Northern Peripheral Road, NH-8, and Southern Peripheral Road, which connect to all important locations in Delhi, Gurgaon, and Manesar.”
Aman Aggarwal, director of KVD Developer, said: “Buyers should invest here due to the availability of multiple options in ready-to-move-in as well as under-construction housing, and in commercial and office spaces. Sectors along SPR have a plethora of group-housing projects on offer which are ideal for both selfuse and investment.”
Sunil Totlani, director of MKS Ventures, says: “To choose one area in Gurgaon with unprecedented development is a difficult task, but, if Southern Peripheral Road and its vicinities are your choice, they are a good bet!”
SPR has high vacancy levels with average monthly rentals of Rs 45-60 per sq ft; this area has projects by DLF, Supertech, AIPL, BPTP, ILD, Ansal API, Tulip, Unitech, Tata Realty, Vatika, Spaze, etc.
The housing segment has many options ranging with average capital values ranging from Rs 5,500 to 8,000 per square feet.
Source : TOI