Bengaluru: Tesla India Motor & Energy Pvt Ltd, a unit of US electric carmaker Tesla Inc., has expanded its real estate footprint in the country by leasing store space in Gurugram.
Tesla will pay about ₹40 lakh per month for 33,475 square feet of ground floor space for a retail, service and delivery centre at Orchid Business Park on Sohna Road in Gurugram. Tesla opened its first showroom in Mumbai recently.
Tesla has leased the Sohna Road space for nine years and has paid ₹2.41 crore as security deposit, according to documents accessed by CRE Matrix, a real estate data analytics platform. It leased the space from Garwal Property Pvt Ltd.
Sohna Road, the automobile servicing hub of the National Capital Region, is about to witness the first Tesla service, delivery and retail centre, said Abhishek Kiran Gupta, CEO and co-founder of CRE Matrix.
“Tesla has marked its entry with 6% higher rental than the average for such a big space at ₹120 per sq ft per month. The micro-market has a lot of luxury car service workshops so access to talent is taken care of,” Gupta added.
Tesla didn’t respond toMint’s queries.
Widening presence
Tesla’s India entry has been marked through a multi-city rollout in the form of office and retail space, as well as servicing and warehousing facilities.
In May, Tesla leased 24,565 sq. ft. of space at Lodha Logistics Park in suburban Mumbai’s Kurla West, which will be used as a service centre. For a five-year lease, Tesla will pay a starting monthly rent of ₹37.53 lakh, totalling over ₹24 crore over the lease term.
Tesla also has a 30-seater office in a co-working centre in Kurla and a retail outlet in the high-profile Maker Maxity complex in Bandra-Kurla Complex that it leased at a record rate of ₹881 per sq. ft.
Beyond Mumbai, Tesla leased 5,850 sq. ft. of office space in Pune last year and recently took up showroom space in Delhi.