Mumbai Welcomes Tesla as Company Finalizes Showroom Lease – Find Out More

American electric vehicle giant Tesla has leased a 4,000 sq. ft. space in Mumbai’s Bandra Kurla Complex (BKC) business district for its first showroom in India, as revealed on Wednesday. Backed by billionaire Elon Musk, the company will pay a monthly rent exceeding Rs 35 lakh for the showroom, which also includes parking facilities, according to documents from CRE Matrix.  

Tesla’s entry into India has been highly anticipated and could signal the automaker’s broader plans to manufacture or assemble vehicles in the country in the future. The showroom space, located in Maker Maxity, has been leased for five years with an annual 5% rent escalation, bringing the monthly rent close to Rs 43 lakh over time, as per the lease agreement.

The ground-floor property, situated near India’s first Apple Store, has been leased from Univco Properties.  

According to documents, a rental agreement was officially registered on February 27 between Univco and a Tesla subsidiary based in Pune.  The starting rental amounts to Rs 881 per square foot per month, and Tesla has paid a security deposit of Rs 2.11 crore as part of the agreement.

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