SPR revamp may boost realty prospects in Gurgaon

SPR revamp may boost realty prospects in Gurgaon

The Southern Peripheral Road (SPR) has steadily evolved into one of Gurgaon’s fastest growing real estate corridors and the realty markets in this stretch may be in for a major boost with the proposed revamp exercise according to reports. A committee of senior authorities and officials from HSVP (previously HUDA) or the Haryana Shahari Vikas Pradhikaran, NHAI (National Highways Authority of India), district revenue department and other stakeholders conducted a meeting for the demarcation of land for developing a cloverleaf. This will be linking the Dwarka Expressway to the SPR (Southern Peripheral Road). This will be a major boost for the entire stretch as per reports and may boost the realty market in surrounding areas due to improved connectivity.

The Southern Peripheral Road will be revamped extensively with two underpasses and three flyovers being built at vital junctions while the road surface will also be repaired and improved considerably from its present condition. These were the key plans that were officially confirmed as part of the third executive meeting of the GMDA (Gurgaon Metropolitan Development Authority) according to reports.

Key aspects of the SPR upgrade initiative

There are several aspects which have been discussed and will be implemented as part of this initiative to repair and upgrade the Southern Peripheral Road.

  • The key areas that will be revamped include the stretches between the Vatika Chowk and the Delhi-Jaipur Road and also between Ghata Village in Sectors 55-56 and Vatika Chowk as per reports.
  • The Gurgaon Metropolitan Development Authority has already held its own traffic based surveys and more than 3,600 vehicles pass through this area each hour, thereby meriting a place in its list of priorities.
  • There will be underpasses built at the intersection of Sector 55/56 and also at Vatika Chowk which will boost overall traffic flow and access for residents.
  • Additionally, three flyovers will be built for lowering overall traffic congestion at the four-lane intersection which is between the Sectors 65/66 and 49/50 in addition to Tigra Mod and Rajesh Pilot Chowk.
  • 281.86 crore will be deployed for execution of these projects and the GMDA (Gurgaon Metropolitan Development Authority) is aiming at transforming the Southern Peripheral Road (SPR) into a key arterial thoroughfare which lowers traffic flow and congestion on the NH-48.
  • HSVP (Haryana Shahari Vikas Pradhikaran) officials have already met with NHAI (National Highways Authority of India) officials and district revenue department personnel for demarcating necessary land required for building a cloverleaf which will link the SPR (Southern Peripheral Road) and the vital Dwarka Expressway. This will bring about a massive connectivity boost for the entire stretch.
  • These new initiatives will spur increased development of commercial and residential real estate projects along the Southern Peripheral Road which has otherwise been affected due to the absence of suitable road based infrastructure. Key areas that will benefit from these initiatives include Sectors 63A-67 and 49-66 in the residential category and 74 and 75 in the commercial segment.

As per reports, Greater Metropolitan Development Authority or GMDA officials have stated that the basic aim in this situation is to develop the NPR (Northern Peripheral Expressway) or Dwarka Expressway and Southern Peripheral Road (SPR) together in order to bring about more connectivity benefits to residents in the entire region. These areas have been languishing for some time on account of slow infrastructural growth but this has been fast tracked and homebuyers will naturally benefit hugely in the near future as per experts. The upgradation of the SPR by the GMDA authorities will naturally improve overall traffic flow to the important Sohna Road from the Dwarka Expressway and also towards the Golf Course Road and Golf Course Extension.

As per reports, traffic flow from several highly congested zones will be diverted to the Dwarka Expressway. These include Delhi Cantonment, Dhaula Kuan, Dwarka sub-city, Najafgarh and Palam among others like Mahipalpur on the National Highway 48. Travellers usually venture to Manesar from Delhi via the Golf Course Road, Sohna Road, Cyber City and Udyog Vihar. However, once the SPR is linked and the NPR is fully completed, a major chunk of traffic to Gurgaon from West Delhi will be diverted accordingly as per experts.

Why SPR is a good residential market to invest in

Along with the developments mentioned above, the Southern Peripheral Road (SPR) also makes for a good residential real estate market on account of several reasons. These include the following:

  • Large variety of under construction, ready to move and newly launched residential real estate projects in this stretch at diverse price points.
  • Easy connectivity to major business hubs like Cyber City, Sohna Road, Udyog Vihar and Golf Course Road.
  • The Indira Gandhi International Airport is 28 kilometres away from the stretch while the railway station is 14 kilometres away from it.
  • Residents get easy access to well-developed social infrastructure and retail facilities along nearby Sohna Road.
  • National Highway-48, Golf Course Extension Road and Sohna Road are major thoroughfares that can be accessed by residents and offer connectivity to multiple key areas.
  • SPR intersects the Sohna Road at Badshahpur while linking the Golf Course Extension Road to NH-8. Key areas in the belt include Sectors 70, 69, 71, 73, 72, 75 and 74.
  • Leading real estate developers like Raheja Developers, Tata Housing, Mapsko, DLF and others have projects in this stretch.
  • Property prices are comparatively reasonable than several other areas in Delhi-NCR.
  • Vital social infrastructure nearby includes the Park Hospital, GD Goenka Public School, Delhi Public School and multiplexes such as Grand Cinemas and SRS.
  • Shopping hotspots nearby include the Raheja Mall, Omaxe Celebration Mall, Good Earth City Centre, Urbana and Cosmopolitan.

The Southern Peripheral Road (SPR) is a good residential investment bet for investors and end-users alike since there is ample scope of future growth and appreciation considering the revamp exercise that has been officially confirmed and subsequent connectivity and infrastructural improvements.