Elon Musk’s Tesla rents out 4000 sq ft of showroom space in BKC

Elon Musk

Tesla, Elon Musk's automotive company, has rented out 4000 sq ft of showroom space in India's costliest commercial district, Bandra Kurla Complex (BKC), for R23.38 crore for five years, according to property registration documents accessed by CRE Matrix.

Reports state that the registration documents show that the showroom space has been rented out in a commercial building named Maker Maxity on North Avenue. Reports state that the premises has been taken at a monthly rent of around Rs 35.26 lakh. Reports state that the registration documents show that the transaction was registered on February 27, 2025, between Univco Properties LLP, the property owner, and Tesla India Motor and Energy Pvt Ltd.

Reports state that the space has been taken on rent by Tesla along with two car parking spaces and the per sq ft rent works out to be Rs 881, the documents further showed. Reports state that documents show that the lease's tenure started on February 16, 2025, and the rent-free period is from February 16 to March 31. The rental for the lease deal is payable from April 2025 up to February 2030.

As per reports, the security deposit for the transaction is Rs 2.11 crore, and the rental agreement has a 5 per cent per year rent escalation clause on a per annum basis. Reports say according to documents, the per month rent is Rs 35.26 lakh, followed by Rs 37.02 lakh in the second year, Rs 38.88 lakh in the third year, Rs 40.82 lakh in the fourth year, and Rs 42.86 lakh in the fifth year.

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