Market slowdown led to sharp decline in Shadnagar real estate

Hyderabad: Once a vibrant hub in Rangareddy district’s real estate sector, Shadnagar has seen a significant decline in sales and registrations. Data from the Farooq Nagar and Shadnagar sub-registration offices reveals a drastic drop in property transactions.

From January to November, Farooq Nagar recorded only 15,000 property registrations compared to 25,000 during the same period last year, while Shadnagar’s registrations dropped by half, from 15,000 to just 7,000.

This downturn has impacted both land and housing sales, despite steady land prices. Following the Assembly elections last December, the market has struggled, leaving both buyers and sellers at a standstill.

Prices, however, remain elevated across Shadnagar, Farooq Nagar, Shamshabad, Amangal, and Chevella, with some areas seeing significant price increases. Nagulapalli Road saw prices jump from Rs 2,300 to Rs 5,300 per square yard, while commercial plots on Parigi Road now fetch up to Rs 16,000 per square yard. Land disputes listed on the Dharani portal add another layer of complexity, as properties often fall into restricted categories, further stalling transactions.

Industry experts see hope in the proposed Regional Ring Road (RRR) project, expected to boost Rangareddy’s real estate market if approved.