Narsingi, Rangareddy District – Commercial shops within the Narsingi 2BHK housing colony have seen a surge in demand, with some units sold for as much as ₹15,000 per square foot. This figure dwarfs the initial offset price, which was reported to be around ₹5,000 to ₹5,500 per square foot. The substantial gap highlights a potent market appetite for these retail spaces in a specific urban nexus.
Across Rangareddy district, an initial auction of 273 shops on April 9 and 10 saw 193 units find buyers. This local sale was part of a larger initiative to auction over 1,400 shops in 36 different colonies spread across four key districts: Rangareddy, Medchal-Malkajgiri, Sangareddy, and Hyderabad. Further auctions are slated to occur from April 15 to April 21 in three additional districts.
Varied Fortunes in Bidding
While Narsingi displayed strong bidder engagement, other locations within Rangareddy district presented a more varied picture. In Shankarpally, all 79 shops were sold, with prices ranging from ₹6,000 to ₹8,000 per square foot, significantly exceeding the ₹2,200 upset price. Similarly, 35 shops at Mankhal and 10 at Narsingi were also successfully sold. However, the overall transaction count for the district, as reported by one source, was only 30 successful sales despite the number of shops offered.
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"The process to sell a total of 1,614 shops in 2BHK housing colonies in four districts began with the auction of 273 commercial stores in Rangareddy on April 9 and 10."
The reported range of prices in Rangareddy varied widely, from ₹3,000 to ₹8,650 per square foot, with the upset price oscillating between ₹2,000 and ₹2,200 for some areas.
Auction Scale and Objectives
The wider auction initiative, which commenced on April 9, encompasses over 1,400 commercial shops located within double-bedroom housing colonies. These properties are being offered on an "as is, where is" basis, with earnest money deposits ranging from ₹30,000 to ₹36,000, depending on the district and the specific auction. The stated purpose behind these sales is to generate funds for the upkeep and maintenance of the housing colonies themselves, which were developed to provide basic infrastructure for economically weaker sections.
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Market Context in Narsingi
Narsingi, identified as a micro-market, has previously shown characteristics of a balanced demand pattern, with a narrow delta between average and median prices. This suggests a general equilibrium in buyer behavior, though the recent shop auctions point to a specific, high-value segment within the commercial real estate landscape of the area. Information from March 2026 indicated available commercial spaces in Narsingi, listed on platforms like MagicBricks and PropertyAdviser, with a range of properties from business bays to mall units, suggesting an existing commercial infrastructure. Property prices in Narsingi, as of April 2025, for residential units, varied significantly, with apartments ranging from ₹76.7 Lakhs to ₹2.93 Crores.
