Global electric vehicle major Tesla has leased over 33,000 square feet at the Orchid Business Park in Gurugram's Sohna Road for an annual rental of Rs 4.82 crore, according to documents accessed by CRE Matrix, a real estate analytics firm.
The lease deed documents showed that the space leased at Orchid Business Park will serve as Tesla’s electrical vehicle service centre, retail store and delivery centre. The deed was signed on July 28 in the name of Tesla India Motors and Energy Private Limited for a period of nine years, and the company has paid a stamp duty of Rs 20.69 lakh.
As part of the transaction, Tesla has leased the entire ground floor of Gurugram-located Orchid Business Park. The leased property has total covered area of 33,475 square feet, chargeable at Rs 120 per month per square foot rent for 9 years.
The total monthly rent for the leased property is Rs 40.17 lakh which will escalate at 4.75 percent every year, with a lock-in period of three years as part of the deal.
Also Read: Tesla Delhi showroom to open on August 11
Tesla has paid a security deposit of Rs 2.41 crore for the deal, and has acquired 51 car-parking slots, documents showed.
There was no immediate response from Tesla India and the lessor of the property. The copy will be updated after receiving a response.
Electric vehicle maker Tesla is set to open its second showroom in India, located at Worldmark 3 building in New Delhi's Aerocity near IGI Airport, on August 11, after its maiden India showroom in Mumbai. The 4,000 sq ft Mumbai facility is present in the Maker Maxity mall at the Bandra Kurla Complex (BKC).
Earlier in May this year, Tesla India Motor and Energy leased more than 24,000 square feet of warehousing space from Macrotech Developers-owned Lodha Logistics Park in Kurla (West) for a starting rent of Rs 37.5 lakh per month.
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