Latest news with #AbhishekKiranGupta
News18
11-06-2025
- Automotive
- News18
Tesla In India: EV Giant Leases 24,565 Sqft Warehouse In Mumbai's Kurla For Over Rs 24 Crore
The lease, registered on May 16, 2025, carries a five-year lock-in period ending April 19, 2030. Elon Musk's Tesla India Motor and Energy Pvt Ltd has leased a 24,565 sq ft warehouse at Lodha Logistics Park in Mumbai's Kurla West, marking another significant step in the electric vehicle (EV) maker's India entry. The five-year lease deal is valued at Rs 24.38 crore, according to a Hindustan Times report citing property registration documents accessed by CRE Matrix. The leased premises comprise two ground-floor units with a combined carpet area of over 18,000 sq ft and a chargeable area exceeding 24,000 sq ft. The lease, registered on May 16, 2025, carries a five-year lock-in period ending April 19, 2030. Tesla has also secured 20 parking spots as part of the agreement. The licence period officially begins on April 20, 2025, while the chargeable licence period starts from June 1, 2025. Tesla will initially pay a monthly rent of over Rs 37.53 lakh in the first year, which will rise 5% annually over the term. The company is also liable to pay Rs 1.62 crore in common area maintenance charges and has deposited Rs 2.25 crore as a security amount. Abhishek Kiran Gupta, CEO of CRE Matrix, described the deal as more than a real estate transaction. '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 said. 'At Rs 153 per sq ft, this lease underlines Tesla's intent to build a robust EV ecosystem anchored by prime logistics and commercial assets," he added. The Kurla warehouse is located approximately 4 km from the U.S. Consulate in Bandra Kurla Complex (BKC), keeping Tesla's assets within a tightly knit 10-km commercial corridor. Tesla's Kurla lease follows a string of real estate moves in Mumbai this year. In March 2025, the company leased a 4,000 sq ft auto showroom in Maker Maxity on North Avenue, BKC — one of India's priciest commercial addresses — for Rs 23.38 crore over five years. The rent of Rs 881 per sq ft set a national record, making it the costliest showroom lease in India to date. In April 2025, Tesla also secured 30 seats in a managed office space near BKC at a monthly rental of Rs 3 lakh. Despite these aggressive real estate acquisitions, the company appears cautious about establishing manufacturing operations in India. Union Minister for Heavy Industries HD Kumaraswamy recently said Tesla has no current plans to set up production units in the country and is instead focused on expanding its retail and office presence.
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Business Standard
05-06-2025
- Business
- Business Standard
Apple inks 10-yr Rs 17.4 lakh/month retail deal in Borivali's Sky City Mall
Apple India has secured a premium commercial lease for a retail unit at Sky City Mall, Borivali East, Mumbai, marking a significant addition to its offline footprint in the city. According to property registration documents accessed by CRE Matrix, a data-driven real estate firm, the company has leased the unit for 10 years and 10 months with a monthly rent of Rs 17.35 lakh and a security deposit of over Rs 1.04 crore. The lease agreement was officially registered on May 28, 2025, and covers a carpet area of 12,616 sq. ft., including five car parkings. The starting rent per sq. ft. is set at Rs 138 per square feet, with rent escalation fixed at 15% every three years. Apple will benefit from a 10-month rent-free period, after which the rent will commence. Notably, the lock-in period spans the entire lease duration for the licensor, while the licensee (Apple) has a lock-in of 6 years and 6 months. The agreement also includes a revenue share clause, with Apple committing to share 2% of quarterly revenue for the first 42 months, which will increase to 2.5% thereafter. Additionally, Common Area Maintenance (CAM) charges have been set at ₹75 per sq. ft. "From flagship stores in BKC and Saket to now leasing at ₹138 per sq. ft. in Borivali's Sky City Mall, Apple's retail strategy in India is clearly evolving. This ₹17 lakh-a-month lease with a ₹1 crore-plus deposit shows that the brand sees value not just in prestige locations, but in high-potential suburban hubs. As real estate data analysts, we view this as a turning point—global brands are starting to chase footfalls and formats over just pin codes," said Abhishek Kiran Gupta, CEO & Co-founder, CRE Matrix. Sky City Mall, located off the Western Express Highway in Borivali East, is a strategic commercial hub with excellent metro and road connectivity. Apple's move to expand in this suburban hotspot underscores its commitment to tapping into growing retail demand in India's financial capital. This is Apple's India fourth store in the country. Earlier this year, Apple had leased an office spread over 6,526 sq ft in Mumbai's business district Bandra-Kurla Complex (BKC) through a lease at monthly rentals of Rs 738 per sq ft. According to the documents, Apple India Private Limited, the Indian arm of US-based multinational technology company headquartered in Cupertino, California, has leased the commercial space in a building named Maker Maxity-5 for five to the documents, Agni Commex LLP (the landlord) leased the space for Rs 48.19 lakh per month and Apple India paid a deposit of Rs 4.33 crore.
NDTV
03-06-2025
- Business
- NDTV
Tesla India Takes On Lease 24,565 Sq Ft Warehousing Space In Mumbai
New Delhi: Tesla India has taken on lease 24,565 square feet warehousing space in Lodha Logistics Park in Mumbai at a starting monthly rent of Rs 37.53 lakh, according to CRE Matrix. Real estate data analytics firm CRE Matrix has reviewed the registration documents. Tesla India Motor & Energy Pvt Ltd has taken the warehousing space, located at Kurla-West in Mumbai, on lease for 5 years. The space has been taken from Macrotech Developers Ltd, which is developing this logistics park. The rent commencement date is June 1, 2025. There will be a rent escalation of 5 per cent per annum. The total rent outgo is estimated at Rs 24 crore for the entire 5-year lease period. "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. This 24,565 sq ft lease at Rs 153 per square feet is more than a real estate transactions -- its a signal of intent," CRE Matrix CEO Abhishek Kiran Gupta said. Listed entity Macrotech Developers, which sells properties under Lodha brand, did not comment on the lease transaction. On Monday, Union Heavy Industries Minister H D Kumaraswamy said that global EV giant Tesla is not interested in manufacturing cars in India but keen on establishing showrooms in the country.
Hindustan Times
03-06-2025
- Automotive
- Hindustan Times
Tesla secures strategic 5-year warehouse lease in Mumbai amidst expansion plans
Tesla has leased a 24,565 square foot property in Mumbai for warehousing purposes. (REUTERS) Notify me Tesla India has taken on lease 24,565 square feet warehousing space in Lodha Logistics Park in Mumbai at a starting monthly rent of ₹ 37.53 lakh, according to CRE Matrix. Real estate data analytics firm CRE Matrix has reviewed the registration documents. Tesla India Motor & Energy Pvt Ltd has taken the warehousing space, located at Kurla-West in Mumbai, on lease for 5 years. The space has been taken from Macrotech Developers Ltd, which is developing this logistics park. Also Read : Tesla not interested in manufacturing in India, keen on opening showrooms: Union Minister HD Kumaraswamy The rent commencement date is June 1, 2025. There will be a rent escalation of 5 per cent per annum. The total rent outgo is estimated at ₹ 24 crore for the entire 5-year lease period. Also Read : Tesla Cybertruck spotted on Indian roads but there is a catch… "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. This 24,565 sq ft lease at ₹ 153 per square feet is more than a real estate transactions -- its a signal of intent," CRE Matrix CEO Abhishek Kiran Gupta said. Also Read : Tesla Robotaxis are finally here, but you'll need an invite to catch a ride. Here's why Listed entity Macrotech Developers, which sells properties under Lodha brand, did not comment on the lease transaction. On Monday, Union Heavy Industries Minister H D Kumaraswamy said that global EV giant Tesla is not interested in manufacturing cars in India but keen on establishing showrooms in the country. Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape. First Published Date: 03 Jun 2025, 19:01 PM IST
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Business Standard
03-06-2025
- Automotive
- Business Standard
Tesla India leases prime space in Mumbai's Kurla for Rs 37.5 lakh monthly
Electric vehicle giant Tesla India Motor & Energy Pvt Ltd has leased two large ground-floor units at Lodha Logistics Park in Kurla West, Mumbai, as it ramps up its operations in India. According to registration documents accessed by CRE Matrix, a data driven real estate firm, Tesla will pay a starting monthly rent of Rs 37.53 lakh for the space, with a security deposit of Rs 2.25 crore. The lease was registered on May 16, 2025, and covers 24,565 sq. ft. across Units G-101 & G-102 of Building 1. The lease is for a five-year period, with a rent-free window of one month and ten days. Rent payments will officially begin from June 1, 2025. The lease agreement includes 20 car parking slots, and the starting rent works out to Rs 153 per sq. ft., with a 5% escalation every year. Additionally, Tesla will pay common area maintenance (CAM) charges of ₹10 per sq. ft., which will also increase by 5% annually. The licensor of the property is Bellissimo in City FC Mumbai 1 Pvt Ltd, a Lodha Group entity. LLP, Kurla is planned over 8 acres with potential development of 4 Lakh sq ft. Key details: This deal signals Tesla's growing footprint in India, particularly in key metros like Mumbai, as it prepares for local expansion. '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. This 24,565 sq. ft. lease at ₹153 per sq. ft. is more than a real estate transaction — it's a signal of intent. Backed by data, we're witnessing Tesla build a high-impact EV ecosystem across India, anchored by prime commercial and logistics assets," said Abhishek Kiran Gupta, CEO, CRE Matrix.
