Avenue Supermarts Buys 52,000 Sq Ft Land in Mumbai for ₹117 Crore

Avenue Supermarts Ltd, the parent company of the renowned D’Mart supermarket chain, has recently made a significant real estate investment in Mumbai. The company has bought a sprawling 52,000 square feet plot in Chandivali, Andheri East. This purchase signifies D'Mart's strategic approach to expanding its presence and strengthening its position as a dominant player in India's retail landscape.

The land purchased underscores Avenue Supermarts Ltd commitment to investing in key markets and catering to the evolving needs of its customers. With an agreement value of ₹117.25 crore and a stamp duty payment of ₹7.03 crore, this investment represents a substantial commitment to Mumbai's real estate market.

The acquired property features an industrial building comprising eight units, distributed across the ground and first floors. This strategic investment aligns with D'Mart's growth strategy, aimed at securing prime real estate assets to support its expansion plans and deliver exceptional shopping experiences to its customers.

This latest purchase adds to a series of successful real estate ventures by Avenue Supermarts Ltd. In September 2023, the company secured three floors of retail space in a prominent residential building in Kandivali West for ₹88.74 crore, further solidifying its presence in Mumbai.

With an average of two new stores opening every month, Avenue Supermarts Ltd continues to drive innovation and customer-centricity in the retail industry. The company's expansion efforts are aligned with its mission to provide shoppers with convenient access to a wide range of products while delivering exceptional value and service.

As D'Mart continues to expand its footprint nationwide, its strategic real estate investments play a crucial role in fueling the company's growth and reinforcing its status as a leader in India's retail sector.

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