Tesla India leases 24,000 sq ft warehousing space in Mumbai's Kurla at monthly rent of Rs 37 lakh

Tesla has also leased showroom space in BKC

American electric vehicle giant Tesla's India subsidiary, Tesla India Motor and Energy, has leased more than 24,000 square feet of warehousing space from Macrotech Developers (Lodha Group)-owned Lodha Logistics Park in Kurla (West), for a starting rent of Rs 37.5 lakh per month, according to property registration documents accessed by market data analytics firm CRE Matrix.

The starting monthly rent works out to around Rs 153 per square foot per month. Besides the rent, Tesla India is required to pay common area maintenance charges of Rs 10 per square foot per month, with a 5 percent escalation every financial year. The registration was concluded on May 16. Tesla India is paying a security deposit of more than Rs 2.25 crore, according to the documents. The lease period also includes a rent free period of one month and 10 days, the documents show.

Moneycontrol has written to both Tesla India and Lodha Group for comment on the deal, and the story will be updated once the responses are received.

This is the second major leasing activity concluded by Tesla India in Mumbai, after it leased showroom space in Mumbai's Bandra Kurla Complex at the premium Maker Maxity development in March. It is also setting up a showroom in Delhi NCR, and an office in Pune.

"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 sq. ft. is more than a real estate transaction — it’s a signal of intent. Backed by data, we’re witnessing Tesla build a high-impact EV ecosystem across India, anchored by prime commercial and logistics assets," said Abhishek Kiran Gupta, CEO of CRE Matrix.

Tesla has been preparing for entering the Indian market, although it is unlikely to manufacture in India in the near-to-medium term, and the cars that it plans to sell will be imported from its manufacturing bases.