Tesla Leases 24,565 Sq Ft Warehouse in Mumbai for ₹24 Crore Over 5 Years
Elon Musk’s Tesla has leased a 24,565 sq ft warehouse in Kurla, Mumbai, for a total of ₹24.38 crore over five years, signaling a significant step in the company’s expansion in India.
TeslaMumbaiWarehouseElectric VehicleExpansionReal Estate MumbaiJun 03, 2025
The leased premises consist of two ground-floor units, offering a combined carpet area of over 18,000 sq ft and a total chargeable area exceeding 24,000 sq ft, as reported by Hindustan Times. The starting monthly rent for the first year is over Rs 37.53 lakh, and the lease includes a 5 per cent annual escalation clause.
Apart from the rent, Tesla is also responsible for Rs 1.62 crore in common area maintenance charges across the lease period and has paid a security deposit of Rs 2.25 crore. The lease agreement was formally registered on May 16, 2025. The licence period begins from April 20, while the chargeable rent period kicks off from June 1.
The lease has a full five-year lock-in clause, extending until April 19, 2030. The deal also includes access to 20 parking spots. As of now, the Macrotech Developers (Lodha Group), the property owner, has not received any response, according to the report.
Abhishek Kiran Gupta, CEO of CRE Matrix, commented on the development, stating, “Tesla’s India entry is taking shape through a deliberate, multi-city rollout from its office in Pune to flagship showrooms in BKC and Delhi-NCR, co-working presence in BKC, and now a strategic warehousing facility in Kurla West, Mumbai,” as reported by Hindustan Times.
Gupta emphasised that this lease, priced at Rs 153 per sq ft, is more than a simple real estate transaction. It signals Tesla’s serious intent to establish a robust electric vehicle (EV) ecosystem in India, built around prime commercial and logistics infrastructure, he said.
Frequently Asked Questions
What is the total rent value for Tesla's warehouse lease in Kurla, Mumbai?
The total rent value for Tesla's warehouse lease in Kurla, Mumbai, is Rs 24.38 crore over five years.
What is the starting monthly rent for the first year of the lease?
The starting monthly rent for the first year of the lease is over Rs 37.53 lakh.
How many parking spots are included in the lease agreement?
The lease agreement includes access to 20 parking spots.
When does the chargeable rent period begin?
The chargeable rent period begins from June 1, 2025.
Who is the property owner of the warehouse in Kurla, Mumbai?
The property owner of the warehouse in Kurla, Mumbai, is Macrotech Developers (Lodha Group).
Related News Articles
Maharashtra's Real Estate Market Sees Upsurge in Property Registrations
Maharashtra's real estate market experiences a boost in property registrations and revenue despite unchanged RR rates, indicating a shift towards high-value transactions.
Top Stock Picks for Short-Term Gains: Bajaj Finserv, HDFC Life, HDFC Bank, and LIC Housing Finance
Market tech analysts Soni Patnaik, Mitessh Thakkar, and F&O analyst Rajesh Palviya recommend these stocks for short-term gains.
3 Financial Stocks Show Promise, Real Estate Overhyped: Samir Arora
Samir Arora, Founder of Helios Capital, highlights the potential of some NBFCs and microfinance companies, while expressing concerns about the real estate sector being overdone. He believes that HDFC Bank, Kotak Bank, and Bajaj Finance, which have underpe
NBT Office Relocation and Pune Book Festival Expected to Draw 7.5 Lakh Visitors
The National Book Trust (NBT) is set to shift its office to the city, a move that coincides with the highly anticipated Pune Book Festival. The festival, expected to attract 7.5 lakh visitors, is a significant cultural event that showcases a wide array of
Metro Brands Promoters Acquire Five Luxury Apartments in Mumbai's Worli for ₹405 Crore
The promoters of footwear retailer Metro Brands have made a significant investment in Mumbai's luxury real estate market by purchasing five apartments in the Worli area for ₹405 crore. These apartments are located in one of the city's tallest buildings, P
Maharashtra Real Estate: Majority of Developers Update Project Details for MahaRERA Compliance
A significant number of real estate developers in Maharashtra have taken steps to improve their compliance with the Maharashtra Real Estate Regulatory Authority (MahaRERA) by updating their project details. This move reflects a growing commitment to trans