 "Tesla drives into Indian mkt with showroom in Mumbai's commercial hub BKC")
Elon Musk's Tesla has leased a 4,003 square feet (sq ft) showroom space in Mumbai's Bandra Kurla Complex (BKC), India’s costliest commercial hub, for Rs 23.38 crore over five years.
According to the registration documents provided by Propstack, a real estate data analytics firm, Tesla's new showroom is in Maker Maxity, on the ground floor of 2 North Avenue.
The American multinational automotive and green energy firm will be paying a rental of Rs 35.26 lakh per month, which is Rs 888 per sq ft, per month. The company paid a security deposit of Rs 2.11 crore.
The tenure of the lease agreement is five years, starting February 16, 2025. The rent will escalate by 5 per cent every year.
Mumbai's BKC hosts numerous multinational companies, including Google and Apple. As of December 2024, the area's Weighted Average Quoted Rents (WAQR) ranged from Rs 250 to Rs 400 per sq ft per month.
Tesla's registered office is at Tablespace, Panchshil Business Park in Pune.