Hyderabad: Once a booming hub for real estate in Rangareddy district, Shadnagar has recently witnessed a marked downturn in its market activity. Data from the Farooq Nagar and Shadnagar sub-registration offices indicate a steep drop in property transactions.
From January to November, only 15,000 properties were registered in Farooq Nagar, a sharp decline from 25,000 in the same period last year. In Shadnagar, registrations have halved, plummeting from 15,000 to just 7,000.
This market slowdown has affected both land and housing sales, even though land prices have remained stable. A stalemate has gripped the market since last December’s Assembly elections, leaving buyers and sellers at a standstill.
Despite the slow market, property prices in Shadnagar, Farooq Nagar, Shamshabad, Amangal, and Chevella remain high. In some areas, prices have even surged. For example, Nagulapalli Road saw prices increase from Rs 2,300 to Rs 5,300 per square yard, while commercial plots on Parigi Road are now fetching up to Rs 16,000 per square yard.
Additionally, ongoing land disputes on the Dharani portal have further complicated transactions, as many properties fall under restricted categories, impacting the overall business climate.
Industry experts believe that if the proposed Regional Ring Road (RRR) project is approved, it could revitalize the real estate market in Rangareddy and provide much-needed momentum.
