However, no one was injured in the incident, police said.
Panther's presence in the densely populated locality which is also not very close to forest led to lot of commotion in the area.
The big cat was spotted early this morning in a street of Milap Nagar near Tonk road.
Locals in large number gathered to see the animal which ran through the street and entered the locked building having many trees.
He panther was then surrounded and tranquilised by a forest department team, police said, adding that it was taken to Jaipur zoo for medical checkup.
Veterinary officer of Jaipur Zoo Dr Arvind Mathur said that he will be released in Sariska forest area in Alwar.