Tesla Leases 24,565 Sq Ft Warehouse in Mumbai's Kurla for ₹24 Crore Over Five Years

Elon Musk's Tesla India Motor and Energy Pvt Ltd has leased 24,565 sq ft of warehouse space at Lodha Logistics Park in Mumbai’s Kurla area for a total rent of ₹24.38 crore over five years, according to property registration documents accessed by CRE Matrix.

The documents show that the leased space includes two ground-floor units with a combined carpet area of over 18,000 sq ft and a chargeable area exceeding 24,000 sq ft. The starting monthly rent is over ₹37.53 lakh for the first year, with a 5% annual escalation, bringing the total rent over the five-year lease period to more than ₹24 crore.

In addition to the rent, Tesla will pay ₹1.62 crore in common area maintenance charges over five years and has provided a security deposit of ₹2.25 crore, as per the documents. The lease agreement was registered on May 16, 2025, with the license period beginning on April 20, 2025, and the chargeable license period starting from June 1, 2025.

The lease includes a full five-year lock-in period, ending on April 19, 2030. The agreement covers the warehouse space along with 20 parking spots. An email query sent to Macrotech Developers, also known as the Lodha Group, and Tesla's representative who signed the agreement, did not receive a response. If a response is received, the story will be updated.

Abhishek Kiran Gupta, CEO of CRE Matrix, commented on the lease, 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. This 24,565 sq ft lease at ₹153 per sq ft is more than a real estate transaction — it is a signal of intent. Backed by data, we are witnessing Tesla build a high-impact EV ecosystem across India, anchored by prime commercial and logistics assets.”

Earlier, in March 2025, Tesla had taken 4,000 sq ft of showroom space in India's costliest commercial district, Bandra Kurla Complex (BKC), in Mumbai, for ₹23.38 crore for five years, according to property registration documents accessed by CRE Matrix. Tesla rented a space in a commercial building named Maker Maxity on North Avenue in BKC, along with two parking spaces. The per sq ft rent worked out to be ₹881, setting a national record in terms of lease rentals and making it the most expensive auto showroom lease deal in the country by far.

In April 2025, Tesla had secured 30 seats in a managed office space near Mumbai's BKC, the most expensive business district in India, with a monthly rent of ₹3 lakh, according to an HT.com report. The newly leased warehouse, showroom, and flex office space in BKC are all within a 10-km radius of each other. The newly leased warehouse space is around 4 km from the US Consulate in BKC, Mumbai.