Tesla India has taken on lease 24,565 square feet warehousing space in Lodha Logistics Park in Mumbai at a starting monthly rent of Rs 37.53 lakh, according to CRE Matrix.
Real estate data analytics firm CRE Matrix has reviewed the registration documents.
Tesla India Motor & Energy Pvt Ltd has taken the warehousing space, located at Kurla-West in Mumbai, on lease for 5 years. The space has been taken from Macrotech Developers Ltd, which is developing this logistics park.
The rent commencement date is June 1, 2025. There will be a rent escalation of 5 per cent per annum.
The total rent outgo is estimated at Rs 24 crore for the entire 5-year lease period.
"Tesla's India entry is taking shape through a deliberate, multi-city rollout -- from its office in Pune to flagship showrooms in BKC and Delhi-NCR, co-working presence in BKC and now a strategic warehousing facility in Kurla-West Mumbai. This 24,565 sq ft lease at Rs 153 per square feet is more than a real estate transactions -- its a signal of intent," CRE Matrix CEO Abhishek Kiran Gupta said.
Listed entity Macrotech Developers, which sells properties under Lodha brand, did not comment on the lease transaction.
On Monday, Union Heavy Industries Minister H D Kumaraswamy said that global EV giant Tesla is not interested in manufacturing cars in India but keen on establishing showrooms in the country.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
