Tesla, the renowned electric vehicle manufacturer led by Elon Musk, has finalized a lease for a 4,000 sq ft showroom in Mumbai’s prestigious Bandra Kurla Complex (BKC). The agreement, valued at ₹23.38 crore for five years, was documented in a property registration accessed by CRE Matrix.
According to the records, the lease deal was signed on February 27, 2025, between Univco Properties LLP, the property owner, and Tesla India Motor and Energy Pvt Ltd. The agreement includes two dedicated parking spaces, with a rental rate of ₹881 per sq ft.
The lease officially commenced on February 16, 2025, with a rent-free period lasting until March 31. Rental payments begin in April 2025 and extend through February 2030. Tesla has provided a security deposit of ₹2.11 crore, and the contract includes an annual rent escalation of 5%.
The monthly rental structure is set at ₹35.26 lakh for the first year, increasing to ₹37.02 lakh in the second year, ₹38.88 lakh in the third year, ₹40.82 lakh in the fourth year, and ₹42.86 lakh in the fifth year.
BKC, one of India’s most expensive commercial hubs, is home to global corporations such as Apple, Netflix, Facebook, Amazon, and Spotify, along with major financial institutions like the National Stock Exchange, Standard Chartered Bank, and Blackstone. The move positions Tesla among elite industry players in a district recognized as Mumbai’s central business hub.
