Tesla Expands Real Estate in India with New Service and Retail Centre in Gurugram
Bengaluru: Tesla India Motor & Energy Pvt Ltd, a subsidiary of the US electric carmaker Tesla Inc., has significantly expanded its real estate footprint in India by leasing a large space in Gurugram. This move follows the recent opening of Tesla’s first showroom in Mumbai, further solidifying the company’s commitment to the Indian market.
Tesla will pay approximately ₹40 lakh per month for 33,475 square feet of ground floor space at the Orchid Business Park on Sohna Road in Gurugram. The space will serve as a retail, service, and delivery centre, catering to the growing demand for Tesla vehicles in the region. The lease agreement is for nine years, and Tesla has already paid ₹2.41 crore as a security deposit to Garwal Property Pvt Ltd.
Sohna Road, known as the automobile servicing hub of the National Capital Region, is set to witness the first Tesla service, delivery, and retail centre. Abhishek Kiran Gupta, CEO and co-founder of CRE Matrix, a real estate data analytics platform, commented on the significance of this move. “Tesla has marked its entry with a 6% higher rental than the average for such a big space at ₹120 per sq ft per month. The micro-market has a lot of luxury car service workshops, so access to talent is taken care of,” Gupta added.
Tesla’s expansion in India has been characterized by a multi-city rollout, encompassing office and retail spaces as well as servicing and warehousing facilities. In May, Tesla leased 24,565 sq. ft. of space at the Lodha Logistics Park in suburban Mumbai’s Kurla West, which will serve as a service centre. For a five-year lease, Tesla will pay a starting monthly rent of ₹37.53 lakh, totaling over ₹24 crore over the lease term.
Additionally, Tesla has a 30-seater office in a co-working centre in Kurla and a retail outlet in the high-profile Maker Maxity complex in the Bandra-Kurla Complex, leased at a record rate of ₹881 per sq. ft. Beyond Mumbai, Tesla has also leased 5,850 sq. ft. of office space in Pune last year and recently secured showroom space in Delhi.
These strategic moves underscore Tesla’s ambitious plans to establish a robust presence in India, leveraging the country’s growing market for electric vehicles and luxury car services. The company’s expansion in India is not only a testament to its global growth strategy but also a significant step towards meeting the increasing demand for sustainable transportation options in the region.
