The matter came to light this morning when the owner, Mohd Imran Wani, reached the showroom, which is housed in the basement of a building, and found its shutter and gate broken.
"Around 400 Kashmiri carpets kept in the showroom, worth nearly Rs 4 crore, were stolen. We have registered an FIR and further investigations are on," said a senior police official.
The family, which originally hails from Kashmir, lives just a building away from the showroom.