Gurugram's real estate market could see another phase of growth as the Haryana government advances land acquisition for the proposed Greater Southern Peripheral Road (Greater SPR). The announcement of compensation rates for six villages, with a total payout of approximately ₹986 crore, marks a key step towards advancing the infrastructure project. The proposed road is expected to improve connectivity across Gurugram and adjoining areas, potentially boosting real estate activity along the corridor, experts said.
The land acquisition department has finalised compensation rates ranging from ₹4.92 crore to ₹8.25 crore per acre for six villages. Badshahpur has received the highest compensation at ₹8.25 crore per acre, followed by Maidawas at ₹6.17 crore, Behrampur at ₹5.26 crore, Dhumaspur at ₹5.19 crore, Ullawas at ₹4.96 crore and Kadarpur at ₹4.92 crore per acre, according to a statement.
Approximately 160 acres are being acquired by the department on behalf of the Haryana Shahari Vikas Pradhikaran (HSVP), involving a total compensation of around ₹986 crore. Another 116 acres required for the road have already been transferred to the government in exchange for transferable development rights (TDRs). The project is also expected to benefit locations across the Southern Peripheral Road, Golf Course Extension Road and adjoining areas, subject to the final alignment and execution of the proposed road network, according to experts.
Leading developers expand their presence with new launches
DLF Limited has a senior living project that generated sales of approximately ₹1,985 crore. BPTP launched Downtown 66 in Sector 66, featuring 504 luxury residences, while Pioneer Urban introduced ALURA, an ultra-luxury serviced residences project in Sector 62.
{{/usCountry}}DLF Limited has a senior living project that generated sales of approximately ₹1,985 crore. BPTP launched Downtown 66 in Sector 66, featuring 504 luxury residences, while Pioneer Urban introduced ALURA, an ultra-luxury serviced residences project in Sector 62.
{{/usCountry}}Whiteland Corporation has a presence along the SPR corridor with projects including The Aspen, The Aspen Iconic and Blissville in Sector 76. Anant Raj Limited’s 220-acre Anant Raj Estate, including The Estate Residences, directly abuts the proposed road, positioning the township to benefit significantly from improved connectivity and accessibility.
Infrastructure development to strengthen Gurugram's real estate landscape
For Gurugram, the Greater SPR represents more than another road infrastructure project. It has the potential to improve connectivity between key residential catchments, commercial hubs and employment centres, while providing additional alternatives to existing arterial roads, experts opine.
From a real estate perspective, the Greater SPR could emerge as an important growth driver by improving connectivity among residential locations that currently rely on a limited number of major road networks, according to experts.
“The progress on the Greater Southern Peripheral Road (Greater SPR) is a significant development for Gurugram’s real estate landscape. substantial portion of our 220-acre township, Anant Raj Estate-including The Estate Residences, our luxury high-rise group housing - directly abuts the proposed road, therefore well-positioned to gain significantly from improved connectivity and accessibility," said Aman Sarin, Director and CEO, Anant Raj Limited.
“We believe infrastructure-led development plays a crucial role in shaping long-term real estate demand, improving liveability and strengthening buyer confidence. The progress on Greater SPR is a positive step towards Gurugram’s next phase of planned urban growth, and will further enhance the accessibility and attractiveness of projects in the vicinity, including Anant Raj’s various projects," Sarin said.
"Infrastructure development plays a fundamental role in shaping the long-term growth of urban centres, and the Greater SPR is an important step towards strengthening Gurugram's connectivity. As Gurugram continues to evolve as a key residential destination, such infrastructure initiatives will contribute to sustained end-user demand, greater liveability and long-term value creation," said Manik Malik, president and CEO, BPTP.
"The Greater SPR initiative has the potential to be a significant growth catalyst for Gurugram's real estate market, particularly for emerging residential and commercial micro-markets along Golf Course Extension Road (GCER), Southern Peripheral Road (SPR) and adjoining sectors. Over the long term, it could also contribute to a more integrated urban landscape, with GCER and SPR emerging as increasingly important destinations in Gurugram's real estate growth story," said Rishabh Periwal, senior vice president, Pioneer Urban Land and Infrastructure Ltd.
"The progress on Greater SPR is very encouraging, particularly for emerging locations such as Sector 63A and adjoining areas of Golf Course Extension Road, where improved road networks will further enhance accessibility and strengthen residential appeal. Such infrastructure investments not only influence homebuyer preferences but also create opportunities for planned urban growth. Their timely execution will be important in sustaining Gurugram's position as a preferred real estate destination," said Sudhanshu Dutt, CEO, Elevate Homes.
"The Southern Peripheral Road corridor has emerged as one of Gurugram's important real estate growth destinations, with significant potential across both residential and commercial developments. Improved connectivity through the proposed Greater SPR will further strengthen the region's accessibility and support the evolution of integrated urban communities," said Sudeep Bhatt, Director-Strategy, Whiteland Corporation.