Tesla plans to open Mumbai showroom on July 15: Key facts on India's costliest lease deal and its real estate portfolio
According to an HT.com report citing Bloomberg, Tesla has already shipped five Model Y units from its Shanghai plant to Mumbai. Each vehicle was declared at ₹27.7 lakh (approximately $31,988), but steep import duties of over ₹21 lakh per unit, due to India's 70% tariff on fully built imported cars.
1) Tesla's Mumbai showroom in Bandra Kurla Complex
According to property registration documents accessed by CRE Matrix, Tesla took 4,000 sq ft of showroom space in India's costliest commercial district, BKC, in Mumbai, for ₹23.38 crore for five years in February 2025.
The space has been taken on rent by Tesla along with two car parking spaces, and the per sq ft rent works out to be ₹881, the documents showed. The amount sets a national record in terms of lease rentals and makes it the most expensive auto showroom lease deal in the country by far, experts have said.
The showroom space has been rented out in a commercial building named Maker Maxity on North Avenue.
Also Read: Tesla leases 24,565 sq ft warehouse space in Mumbai's Kurla for over ₹24 crore for five years
2) Flexi office space in BKC
Tesla has also secured 30 seats in a managed office space near Mumbai's Bandra Kurla Complex, the most expensive business district in India. According to sources, the space has a monthly rent of ₹3 lakh.
The 30 seats are leased in a co-working office located in Phoenix Market City with a rent of ₹3 lakh per month.
They said the lease agreement is for one year and comes with a three-month lock-in period.
3) Tesla has taken up a dedicated vehicle service centre facility in Mumbai
According to property registration documents accessed by CRE Matrix, Tesla India Motor and Energy Pvt Ltd leased 24,565 sq ft of warehouse space for use as a service centre at Lodha Logistics Park in Mumbai's Kurla area in May 2025 for a five-year total rent of ₹24.38 crore.
The transaction 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.
Also Read: Tesla set to debut in India with showrooms in Mumbai and Delhi: All you need to know about location and rent
4) Tesla has leased three real estate properties in close proximity in Mumbai
The warehouse, showroom, and flex office space, all three real estate properties taken on rent by Tesla, are all within a 10-km radius of each other and around BKC.
Also Read: Elon Musk's Tesla leases flexible office space near Mumbai's BKC for a year at a rent of ₹3 lakh per month
5) Tesla's Delhi real estate portfolio
According to sources, Tesla has finalised a showroom space in Delhi measuring around 4000 sq ft, and the rent is around ₹25 lakh per month.
Sources said the showroom space is in the Aerocity area, a Brookfield property near New Delhi's Indira Gandhi International Airport (IGI).
Meanwhile, Tesla could not be reached for a comment.
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