American EV maker Tesla has rented a 4,000-sq ft space in the Bandra Kurla Complex business district to house its maiden showroom in the country, it was revealed on Wednesday.<\/p>\n
The company, promoted by billionaire Elon Musk, will be paying a rent of over Rs 35 lakh per month for the space which comes with some parking lots as well, as per documents shared by CRE Matrix.<\/p>\n
The launch of Tesla is a keenly awaited one and may well be a precursor to the pioneering auto company’s eventual plans to manufacture or assemble in India.<\/p>\n
The lease for the space in Maker Maxity is for a period of five years and the monthly rental will go up to nearly Rs 43 lakh a month with a 5 per cent rent escalation per year, as per the documents.<\/p>\n
The property on the ground floor is located very close to India’s first Apple Store, and has been leased from Univco Properties.<\/p>\n
A rental agreement was registered between Univco and one of Tesla’s arms having its offices in Pune on February 27.<\/p>\n
The monthly rent per square feet works out to Rs 881 at the starting rental, and a security deposit of Rs 2.11 crore has been paid, the documents said.\u00a0<\/p>\n
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)<\/i><\/p>\n
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