Haryana government in the recent past has taken remarkable initiatives to revive the Gurgaon property market amid an economic slump. The sector of Delhi NCR market has experienced a slump due to unsold inventory and delayed projects. From setting up Gurgaon Development Authority to cutting of circle rates, the Haryana government has adopted the user-centric measures to give a boost to Gurgaon real estate, which could offer both affordable and luxury housing. Among the areas to invest in, Gurgaon and Dwarka stretch has seen good buyer interest in NCR, however, Southern Peripheral Road (SPR) is slowly emerging as a good center for property investment.
The rapid development of the city, which used to be a remote area decades ago, has been a hallmark of commercial property development in the recent years. Residential property prices on the upcoming SPR connecting National Highway 8 have witnessed considerable appreciation over the past few months. This location portrays great investment potential endowed with enhanced connectivity that NH8 provides to Manesar and Dwarka. Similarly, commercial properties along the Dwarka Expressway have also attracted interest from the mid-income buyer group. As prices escalate in upcoming locations of Gurgaon such as Golf Course Extension, Sectors 70 and Sector 78, buyers have been looking at these alternate locations. With major global players coming into play to open their head offices in this part of the world, there is no dearth in demand for commercial projects in Gurgaon. Since the Government has taken new infrastructure initiatives, the overall real estate scenario in both residential and commercial property sectors has remarkably changed.
The stretch between Gurgaon and Dwarka is one of the promising areas for the buyers and investors to consider. Being close to the international airport, this region is being developed with better infrastructure, to match the standards set by Greater Noida.
The Southern Peripheral Road is slowly becoming an area of massive investment which will soon be home to multiple high-end residential and commercial centers, adding more luster to the city that is living up to its nickname ‘The Millennium City.’ Starting from Mehrauli in Delhi connecting NH-8 in Manesar, near Industrial Model Township (IMT), the road offers excellent connectivity to Delhi and its adjoining areas. With prices rising in upcoming locations of Gurgaon such as Golf Course and other locations, majority investors are looking to buy property in southern Gurgaon, which is deemed to be an upmarket location as it is likely to fetch a handsome appreciation in the years to come.
Many high-end residential and commercial units are set to be built alongside the SPR, which will add more essence to the city. The SPR project is supposed to provide excellent connectivity to the daily commuters to and fro Gurgaon from Delhi. Due to the enhanced connectivity, the location has become potential for investment and residential purposes. It has emerged as a premium residential hub as most of the projects launched in this area come up with modern amenities such as clubs, swimming pools, gym etc. Excellent connectivity to Golf Course Extension Road, Gurgaon Sohna Road and NH8 is another reason behind the huge investment being made in this area.