Tesla Expands Real Estate Presence in India with New Service and Retail Centre in Gurugram
Bengaluru: Tesla India Motor & Energy Pvt Ltd, a unit of US electric carmaker Tesla Inc., has expanded its real estate footprint in the country by leasing store space in Gurugram. This move marks a significant step in Tesla's strategy to establish a robust presence in India.
Tesla will pay approximately ₹40 lakh per month for 33,475 square feet of ground floor space for a retail, service, and delivery centre at Orchid Business Park on Sohna Road in Gurugram. This location is strategic as Tesla recently opened its first showroom in Mumbai.
Tesla has leased the Sohna Road space for nine years and has paid ₹2.41 crore as a security deposit, according to documents accessed by CRE Matrix, a real estate data analytics platform. The lease is with Garwal Property Pvt Ltd.
Sohna Road, the automobile servicing hub of the National Capital Region, is about to witness the first Tesla service, delivery, and retail centre, said Abhishek Kiran Gupta, CEO and co-founder of CRE Matrix. “Tesla has marked its entry with 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 did not respond to queries from the media.
Widening presence
Tesla’s India entry has been marked through a multi-city rollout in the form of office and retail space, as well as servicing and warehousing facilities. In May, Tesla leased 24,565 sq. ft. of space at Lodha Logistics Park in suburban Mumbai’s Kurla West, which will be used as a service centre. For a five-year lease, Tesla will pay a starting monthly rent of ₹37.53 lakh, totalling over ₹24 crore over the lease term.
Tesla also has a 30-seater office in a co-working centre in Kurla and a retail outlet in the high-profile Maker Maxity complex in Bandra-Kurla Complex that it leased at a record rate of ₹881 per sq. ft.
Beyond Mumbai, Tesla leased 5,850 sq. ft. of office space in Pune last year and recently took up showroom space in Delhi. These strategic moves demonstrate Tesla's commitment to expanding its network and reaching more customers in India.
The expansion in real estate is part of Tesla's broader strategy to build a strong foundation in the Indian market. With a growing demand for electric vehicles and a push towards sustainable energy, Tesla's presence in key cities like Gurugram, Mumbai, Pune, and Delhi is expected to play a crucial role in the company's long-term success in India.
