Elon Musk’s Tesla India Motor and Energy Pvt Ltd has leased 24,565 sq ft of warehouse space at Lodha Logistics Park in Mumbai’s Kurla area for a total rent of ₹24.38 crore for five years, according to property registration documents accessed by CRE Matrix. American electric vehicle giant Tesla’s India subsidiary, Tesla India Motor and Energy, has to pay Rs 37.5 lakh as monthly rent.
The starting monthly rent works out to around Rs 153 per square foot per month. Besides the rent, Tesla India is required to pay common area maintenance charges of Rs 10 per square foot per month, with a 5 per cent escalation every financial year. Registration concluded on May 16. This is the second major leasing activity concluded by Tesla India in Mumbai, after it leased showroom space in Mumbai’s Bandra Kurla Complex at the premium Maker Maxity development in March.
It is also setting up a showroom in Delhi NCR and an office in Pune. 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.
The lease agreement was registered on May 16, 2025. The license period begins on April 20, 2025, while the chargeable license period starts from June 1, 2025. The lease includes a full five-year lock-in period, ending on April 19, 2030. The documents also show that the agreement covers the warehouse space along with 20 parking spots.
