DMart's Founder Buys Rs 106 Crore of East Bengaluru Real Estate
Avenue Supermarts, DMart's parent, has acquired an entire block in Panathur. Radhakishan Damani does not speculate, so it is worth understanding why.
Radhakishan Damani does not speculate. So when India's most disciplined retailer puts Rs 106 crore of owned capital into Panathur, it is worth understanding the reasoning behind it.
Avenue Supermarts, the parent of DMart, acquired the entire Block-A building in Panathur Village, Varthur Hobli, Bengaluru East on April 13, 2026.
The purchase price was Rs 106.2 crore for a built-up area of 1.70 lakh sq ft across a basement, ground, three upper floors and a terrace.
The property was acquired from six members of the Reddy family, with stamp duty of Rs 2.12 crore paid on the deal.
DMart's strategy has always been to own rather than lease, so every purchase reflects a long-term conviction on location quality and demand durability.
Panathur sits at the nexus of the Sarjapur and ORR corridor. This is not a micro-market a buyer stumbles into. It is a destination chosen through careful analysis, and with this acquisition Damani has backed it for the second time.
The earlier bet sets the context. Avenue Supermarts bought 67,400 sq ft in Varthur Hobli back in October 2021 for Rs 88.25 crore. Same belt, larger scale, five years later. Over that period, property prices in Panathur have risen 121.6 percent, with the average now around Rs 15,400 per sq ft.
This update is part of the City Intelligence series by Harish Chabbria, Founder of Beyond 4.
