Elon Musk meets Indian Prime Minister Narendra Modi in Washington.
Credit: Reuters
New Delhi: Electric vehicle giant Tesla, which is expanding its presence in India, has rented 8,200 sq ft of commercial space in Delhi's Aerocity for a starting rent of Rs 17.22 lakh per month, according to CRE Matrix.
Real estate data analytics firm CRE Matrix, which has reviewed the registration document of leasing transactions, said that Tesla India Motor & Energy Pvt Ltd has taken on lease 8,200 sq ft area at Worldmark 3 project in Aerocity from Oak Infrastructure Pvt Ltd.
The space has been taken for a 9-year lease, with a starting rent of Rs 17.22 lakh.
The starting rent is Rs 210 per sq ft. The rentals will increase by 15 per cent every 36 months. The lease registration happened on July 30, 2025.
Elon Musk-led Tesla made its India retail debut last month with a store in the Bandra Kurla Complex business district in suburban Mumbai. The company is selling the China-made 'Model Y' with a price tag of nearly Rs 60 lakh after accounting for the high import duties.
Recently, Tesla leased a 33,000 square feet area in a commercial building at Gurugram, Haryana, which can be used as a service centre and sales outlet, according to CRE Matrix.
The company registered a 9-year lease for the unit in Gurugram's Orchid Business Park.
Tesla will be paying a starting rent of Rs 40 lakh for the Gurugram property. There is a clause in the agreement under which the rent will escalate by 4.75 per cent per annum.
The chargeable area is 33,475 sq ft, while the super-built-up area of the property is 50,914 sq ft, CRE Matrix had said, adding that there is a 3-year lock-in.
The property has been leased from Garwal Property, and the lease was registered on July 28.