by THO
Elon Musk’s automotive company Tesla has finalized its showroom space in Mumbai’s Maker Maxity, a mixed-use development located in the Bandra Kurla Complex, at a monthly rent of around ₹35 lakh, sources told HT.com
The car showroom space spread across an area of around 3000 sq ft is located on the ground floor of the commercial tower in Maker Maxity and the rent is around ₹35 lakh per month, the sources said, adding the space comes with a few car parkings as well.
BKC is the country’s most expensive commercial real estate hub.
Sources said that this is perhaps the highest showroom rental deal in the auto industry to date. HT.com does not have a copy of the agreement, and the story will be updated as more details emerge.
An email has been sent to Maker Maxity for confirmation.
Tesla’s Delhi showroom space update
Sources said that the Delhi showroom space finalised by Tesla is around 4000 sq ft and the rent is around ₹25 lakh per month.
Sources said that Tesla has finalised the lease of showroom space in the Aerocity area located in a Brookfield property near New Delhi’s Indira Gandhi International Airport (IGI).
HT.com does not have a copy of the agreement, and the story will be updated as more details emerge.
Brookfield Properties did not respond to HT’s query.
In April 2023, Bharti Enterprises Limited (BEL) had transferred its 51% stake (held in Rostrum Realty) to Brookfield Group. In June 2024, Bharti Enterprises Limited (BEL) transferred its remaining stake (held in Rostrum Realty) to Brookfield India Real Estate Trust (sponsored by the Brookfield Group).
Prime Minister Narendra Modi met Tesla CEO Elon Musk in the United States last month and discussed matters including space, mobility and technology.
Sources familiar with the matter, cited in a Reuters report published earlier, had said that Tesla has been looking for showroom spaces in India since late last year in order to start sales in the world’s third biggest auto market, after pausing market entry plans in 2022.
Tesla had also posted job ads last month for 13 mid-level roles in India, including some store and customer relationship managers.
Tesla could not be reached for a comment.
