Mumbai News: Elon Musk’s Tesla Leases 24,565 Sq Ft Warehouse In Kurla For ₹24 Crore Over 5 Years

Mumbai: Elon Musk’s Tesla India Motor and Energy Pvt Ltd has leased 24,565 square feet of warehouse space at Lodha Logistics Park in Kurla, Mumbai. The agreement spans five years, with the total rent valued at Rs 24.38 crore, according to property registration documents reviewed by CRE Matrix.

The leased premises consist of two ground-floor units, offering a combined carpet area of over 18,000 sq ft and a total chargeable area exceeding 24,000 sq ft, according to a Hindustan Times report. The starting monthly rent for the first year is over Rs 37.53 lakh, and the lease includes a 5 per cent annual escalation clause.

Apart from the rent, Tesla is also responsible for Rs 1.62 crore in common area maintenance charges across the lease period and has paid a security deposit of Rs 2.25 crore. The lease agreement was formally registered on May 16, 2025. The licence period begins from April 20, while the chargeable rent period kicks off from June 1.

The lease has a full five-year lock-in clause, extending until April 19, 2030. The deal also includes access to 20 parking spots. As of now, the Macrotech Developers (Lodha Group), the property owner, has not received any response, according to the report.

Abhishek Kiran Gupta, CEO of CRE Matrix, commented on the development, stating, “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," as reported by Hindustan Times.

Gupta emphasised that this lease, priced at Rs 153 per sq ft, is more than a simple real estate transaction. It signals Tesla’s serious intent to establish a robust electric vehicle (EV) ecosystem in India, built around prime commercial and logistics infrastructure, he said.