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Rice is the most important staple food in India and a critical component of food security and livelihood systems in Telangana. This study aims to analyze the consumption patterns and preferences for rice among rural and urban consumers in Telangana, with a focus on the sensory, physical and economic attributes that influence purchasing decisions. A total of 300 respondents 150 from rural areas and 150 from urban areas were randomly selected using a simple random sampling method to ensure unbiased representation across diverse socio-economic groups. Primary data were collected using a structured questionnaire and analyzed through Conjoint Analysis, an advanced technique for estimating the relative importance of product attributes and consumer utility values. Ten key attributes were considered for analysis: grain size, aroma, color, taste, texture after cooking, price, stickiness, cooking time, age of rice and after-cooking shelf life. The study reveals that rural consumers prioritize affordability, medium aroma, moderate grain length, creamy color and low-priced rice, reflecting their sensitivity to price and practicality in daily consumption. In contrast, urban consumers exhibit stronger preferences for quality and sensory attributes favoring long-grain, aromatic, white-colored rice with strong flavor, short cooking time and soft texture. Aged rice (>1 year), non-sticky texture and longer after-cooking shelf life (>12 hours) were highly valued by both groups, indicating shared appreciation for cooking quality and convenience. Relative importance analysis showed that price (18.87%) was the most critical attribute for rural consumers, followed by after-cooking shelf life (10.60%) and aroma (8.87%), while taste (20.34%), grain length (14.91%) and aroma (12.11%) were dominant for urban consumers. These findings suggest that while rural consumers focus on cost and utility, urban consumers are driven by sensory quality and brand perception. The study provides valuable insights for policymakers, millers and marketers to develop market segmentation strategies, improve rice quality and align production with evolving consumer preferences. This study uniquely combines sensory and economic dimensions of rice preference, offering new insights into how modernization and income diversity reshape food choices in developing economies.