Tesla’s Indian Subsidiary Leases 24,565 Sq Ft Warehouse in Mumbai’s Kurla for ₹24.38 Crore Over Five Years

Tesla India Motor and Energy Pvt Ltd, the Indian subsidiary of Elon Musk’s electric vehicle company, has leased a 24,565 sq ft warehouse in Mumbai’s Kurla area. The space, located in Lodha Logistics Park, has been taken on lease for a period of five years at a total rental cost of ₹24.38 crore, according to property registration documents accessed by CRE Matrix.

The documents indicate that the lease covers two adjoining ground-floor units, which together provide a carpet area of over 18,000 sq ft and a chargeable area exceeding 24,000 sq ft. The agreement was registered on May 16, 2025.

The lease period officially begins from April 20, 2025, but the chargeable license period starts on June 1, 2025. The deal includes a five-year lock-in period, which means the lease will remain in effect until April 19, 2030. Tesla will also have access to 20 dedicated parking spots as part of this agreement.

The initial rent for the first year stands at ₹37.53 lakh per month. The lease includes an annual escalation of 5%, which cumulatively takes the rent to over ₹24 crore over the full lease term. Additionally, Tesla will pay ₹1.62 crore over five years for common area maintenance charges. A security deposit of ₹2.25 crore has also been submitted, as per the lease documents.

Abhishek Kiran Gupta, CEO of real estate analytics firm CRE Matrix, commented on the development. He 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.”

Gupta also highlighted the strategic importance of the lease. “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,” he said.

This warehouse lease adds to Tesla’s growing real estate presence in India. In March 2025, Tesla leased 4,000 sq ft of commercial space in Mumbai’s Bandra Kurla Complex (BKC) — considered the country’s most expensive commercial district — at ₹881 per sq ft. The five-year lease was valued at ₹23.38 crore, making it the most expensive showroom lease deal in India, according to experts.

The BKC lease involved space in the Maker Maxity commercial building, located on North Avenue. Tesla also secured two parking spaces as part of the arrangement. The record-setting rent drew significant attention from industry observers.

In April 2025, Tesla leased 30 workstations in a managed office facility near BKC for ₹3 lakh per month. This office is being used to support the company’s expanding operations in India. Like the warehouse, this flexible office setup is also located within a short distance from BKC.

All three properties — the Kurla warehouse, the showroom in BKC, and the office — are situated within a 10-kilometre radius, indicating a geographically concentrated strategy for Tesla’s Mumbai operations. The warehouse itself is around 4 km from the US Consulate in BKC.

While Tesla has been expanding its commercial footprint in India, the company’s manufacturing plans remain uncertain. Union Minister for Heavy Industries HD Kumaraswamy recently stated that Tesla is currently not interested in setting up production or manufacturing facilities in the country. Instead, its focus appears to be on expanding its sales, service, and logistics presence.