Latest news with #AbhishekKiranGupta
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Business Standard
2 days ago
- 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
4 days ago
- 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
4 days ago
- 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
4 days ago
- 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.
Mint
4 days ago
- Automotive
- Mint
Tesla leases space in Mumbai's Lodha Logistics Park, expanding India footprint
Bengaluru: American electric carmaker Tesla Inc. has leased 24,565 sq. ft. of space at Lodha Logistics Park in Mumbai's Kurla West. The transaction adds to the Elon Musk-promoted company's steady expansion of its real estate footprint in India—through offices, showrooms, and now warehousing—as it inches towards an expected market entry. The five-year lease was signed between Tesla India Motor & Energy Pvt. Ltd and Lodha Developers, and registered on 16 May. Tesla will pay a starting monthly rent of ₹ 37.53 lakh, totalling over ₹ 24 crore over the lease term, according to documents accessed by CRE Matrix, a real estate data analytics firm. A person familiar with the development said the leased space may be used as a service centre for Tesla's electric vehicles. The person added that the company may expand within the facility in future. The deal marks Tesla's third lease in Mumbai this year. In addition to a 30-seater office in a co-working centre in Kurla, it also took up space in the high-profile Maker Maxity complex in Bandra-Kurla Complex (BKC) at a record rate of ₹ 881 per sq. ft. Lodha Logistics Park is a 400,000 sq. ft in-city distribution centre catering to last-mile delivery needs of e-commerce, quick-commerce and cloud kitchen firms. Tesla and Lodha Developers did not respond to Mint's queries. Beyond Mumbai, Tesla leased 5,850 sq. ft. of office space in Pune last year and has recently taken showroom space in Delhi. '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,' said Abhishek Kiran Gupta, CEO of CRE Matrix. 'This 24,565 sq. ft. lease at ₹ 153 per sq. ft. is more than a real estate transaction—it's a signal of intent. We're witnessing Tesla build a high-impact EV ecosystem across India, anchored by prime commercial and logistics assets.' Still, questions remain about Tesla's manufacturing plans. On Monday, Union minister for heavy industries H.D. Kumaraswamy said the company has not expressed interest in participating in the government's scheme to promote domestic EV manufacturing (SPMEPCI), Mint reported.
