Avenue Supermarts Ltd (ASL), the operator of DMart retail stores, has acquired a commercial property in Thane for ₹99.27 crore, continuing its strategy of owning key retail real estate assets instead of relying solely on leased properties. According to property registration documents reviewed by CRE Matrix, the transaction was registered on June 30, 2026. The company purchased the ground, first, second and third floors, along with the upper basement parking, in Building No. 6 at Kolshet, Thane, from Regency Shelters LLP. The property has a built-up area of 6,530.86 sq metres (70,298 sq ft) and includes 46 car parking spaces and 47 two-wheeler parking spaces. The deal also involved a stamp duty payment of ₹6.95 crore.
The Thane acquisition comes as the Thane-Kalyan Growth Corridor experiences unprecedented infrastructure development, with the Mumbai Metropolitan Region Development Authority approving a ₹4,897.19 crore budget specifically for the Kalyan Lok Sabha constituency for FY 2026-27. The cornerstone of this transformation is Metro Line 5 (Orange Line), with Phase 1 civil works crossing 99% completion and trial runs anticipated ahead of the December 2026 commercial launch. The 30.3 km Kalyan Ring Road project has received a fresh ₹600 crore injection to fast-track completion, with projections of reducing local gridlock by over 40%. This infrastructure development is creating significant value appreciation opportunities in the region.
The Thane acquisition comes less than three months after Avenue Supermarts bought a 1.7 lakh sq ft commercial building in Bengaluru's Panathur locality for ₹106.2 crore, signalling an accelerated push to expand its owned commercial real estate portfolio. As reported by CRE Matrix, the Bengaluru transaction, registered in April 2026, involved the purchase of an entire commercial building from members of the Reddy family. The asset is located in East Bengaluru's Panathur, a fast-growing commercial hub close to the Outer Ring Road and major IT parks.
Together, the two acquisitions are valued at over ₹205 crore, reinforcing Avenue Supermarts' long-standing asset-heavy expansion strategy. Unlike many organised retailers that primarily lease store locations, DMart has consistently preferred owning strategically located commercial properties, giving it greater control over operating costs and shielding it from rental escalations. According to CRE Matrix, the company's previous acquisitions include around 67,400 sq ft of retail space in Bengaluru's Varthur Hobli for about ₹88.25 crore in October 2021, and a commercial building in Goregaon West, Mumbai, for around ₹71.5 crore the same year.
The Thane acquisition is strategically located in Kolshet, one of the city's rapidly developing residential and commercial corridors, where improving infrastructure and rising housing supply have boosted demand for organised retail and large-format commercial developments. As reported by CRE Matrix, the company's recent buying spree has continued with the acquisition of three floors of retail space in Kandivali West, Mumbai, for ₹88.74 crore in September 2023, followed by the purchase of a 52,765 sq ft land parcel in Chandivali, Andheri East, for around ₹117 crore in May 2024. The corridor's transformation is being driven by government spending at unprecedented scales, positioning it as one of MMR's most accessible, premium urban centres.
