Tesla India Debut: How Much Rent Will Worlds Richest Man, Elon Musk, Pay For Showroom In Mumbai?

New Delhi: Tesla Inc., led by the world’s richest man, Elon Musk, has taken a major step in its India entry by securing its first showroom in the country. The American EV giant has leased a 4,000-sq ft space in Mumbai’s Bandra Kurla Complex at a record-breaking Rs 881 per sq ft—the highest lease rental ever recorded in India. The showroom, located in Maker Maxity, marks a significant milestone for Tesla as it establishes its presence in the Indian market. 

 

According to documents from CRE Matrix, Tesla will be paying a monthly rent of over Rs 35 lakh for the space, which also includes parking facilities. The lease is set for a five-year term, with an annual rent escalation of 5 per cent, pushing the monthly rental to nearly Rs 43 lakh over time. 

The showroom, situated on the ground floor, is in close proximity to India’s first Apple Store and has been leased from Univco Properties. The rental agreement was registered on February 27 between Univco and one of Tesla’s subsidiaries based in Pune. 

Tesla’s long-anticipated arrival in India is generating significant buzz, with this showroom potentially laying the groundwork for future manufacturing or assembly operations in the country.

Here Are Details Of Deal: 

The license period for the agreement is set for five years, commencing on February 16, 2025. A rent-free period has been granted from the commencement date until March 31, 2025. 

Following this period, the monthly rent will be Rs 35,26,665, with an annual escalation of 5 per cent. Adding further, a security deposit of Rs 2,11,59,990 has been paid as part of the agreement. 

Tesla’s Cheapest Car

Earlier, brokerage CLSA said that the Tesla’s cheapest car could range between Rs 35 lakh to Rs 40 lakh in India. The price estimation includes road tax, insurance and other costs. (With PTI Inputs)