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Tesla leases 24,565 sq ft warehouse space in Mumbai's Kurla for over ₹24 crore for five years
Elon Musk's Tesla India Motor and Energy Pvt Ltd has leased 24,565 sq ft warehouse space in Mumbai’s Kurla for a period of five years in Lodha Logistics Park
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 for five years, according to property registration documents accessed by CRE Matrix.
The documents showed 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, Tesla will pay ₹1.62 crore in common area maintenance charges over five years and has provided a security deposit of ₹2.25 crore, according to the documents.
The lease agreement was registered on May 16, 2025. The license period begins on April 20, 2025, while the chargeable license period starts from June 1, 2025.
The lease includes a full five-year lock-in period, ending on April 19, 2030. The documents also show that the agreement covers the warehouse space along with 20 parking spots.
An email query sent to Macrotech Developers, also known as 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, CRE Matrix said, “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,” Gupta said.
Elon Musk-owned Tesla is reportedly not keen on setting up manufacturing and production units in India. As per the statement from Union minister for heavy industries HD Kumaraswamy, Tesla is only interested in expanding its showrooms in India.
Tesla's Mumbai real estate portfolio in India
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 works out to be ₹881, the documents showed. The amount set a national record in terms of lease rentals and made it the most expensive auto showroom lease deal in the country by far, experts had said.
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.
