Once the jewel of Rangareddy’s real estate market, areas like Shadnagar are now facing a marked downturn in property transactions, stirring apprehension among investors, buyers, and sellers alike. Proximity to the Rajiv Gandhi International Airport at Shamshabad had once drawn robust investment into these areas, but since December of last year, the real estate market has experienced a steep decline. Despite land prices holding firm, transaction volumes have fallen sharply, creating an environment where stakeholders are increasingly wary about the profitability of future investments.
The trend began following the Assembly elections in December, when activity in the region’s property sector slowed down significantly, with Shadnagar bearing the brunt of the decline. Data from the Farooq Nagar and Shadnagar sub-registration offices shows a dramatic decrease in property registrations. From January to November of this year, Farooq Nagar saw only 15,000 property documents registered, a significant drop from the 25,000 registered during the same period last year. In Shadnagar, registrations fell even more steeply, from 15,000 last year to just 7,000 this year.
Despite the decline in transactions, property prices in areas like Shadnagar, Farooq Nagar, Shamshabad, Amangal, and Chevella remain high, leading many potential buyers to delay purchases in the hopes of more favorable market conditions. In popular locations like Nagulapalli Road, prices per square yard have surged from Rs 2,300 to Rs 5,300, while prime commercial plots on Parigi Road now command up to Rs 16,000 per square yard. This price inflation, combined with the downturn in sales, has created a challenging landscape for both buyers and sellers in the region.
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Adding to the complexity are ongoing land disputes listed on Telangana’s Dharani portal, which complicate transactions and discourage potential buyers. Properties involved in legal disputes often fall into a restricted category, further slowing the region’s real estate momentum.
However, local real estate stakeholders remain cautiously optimistic that the proposed Regional Rural Ring Road (RRR) project could breathe new life into Rangareddy’s struggling property market. If implemented, the RRR is expected to stimulate economic growth in several areas, including Shadnagar, Kothur, Kondurg, Nandigama, Chaudhariguda, Farooq Nagar, and Keshampet. By enhancing connectivity and opening up new areas for development, the RRR could attract fresh investment and bring renewed interest to the real estate market.
Land values in Rangareddy have already surpassed Rs 50 lakh per acre in certain areas, while residential plots within the city range between Rs 25,000 and Rs 30,000 per square yard. This potential for development, along with high land prices, suggests that if the RRR project proceeds as planned, it could usher in a new era of real estate growth and revitalization for the region.
With stakeholders and local officials pinning their hopes on the RRR, the real estate market in Rangareddy district could see a resurgence in the coming years. For now, the focus remains on navigating high property costs, ongoing legal disputes, and a volatile transaction climate, as the community awaits developments on the RRR and the promise of a more favorable market.
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