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IKEA Signs 9-Year Lease for Retail Space in Pacific Mall, Delhi

IKEA Signs 9-Year Lease for Retail Space in Pacific Mall, Delhi

Global home furnishing giant IKEA has signed a nine-year lease agreement with Pacific Development Corporation for a prominent retail space in Pacific Mall, Najafgarh Road, West Delhi. The deal was registered on April 9, 2025, and covers a 14,471 sq. ft. area. It comes with a substantial security deposit of ₹4.25 crore, as per data shared by CRE Matrix.

The lease structure starts with a monthly rent of ₹30 lakh in the first year, with gradual escalations over the lease tenure. In the second year, the rent rises by 3.75% to ₹31.12 lakh. There will be a 2.41% hike in the third year, amounting to ₹31.87 lakh. A significant increase occurs in the fourth year, with the monthly rent jumping by over 20% to ₹38.49 lakh. This remains stable for the fifth and sixth years. In the seventh year, another sharp escalation of 18% pushes the rent to ₹45.42 lakh per month. However, this remains fixed through the eighth and ninth years. The agreement includes an 8-month lock-in period for the licensee.

This strategic expansion reflects IKEA’s increasing focus on penetrating high-footfall urban retail hubs. By securing a flagship global brand as a tenant, Pacific Mall strengthens its market positioning and is expected to see a further boost in customer traffic and overall brand mix.

The new store in West Delhi aligns with IKEA’s innovative ‘One Click, 30 Minutes Away’ model. Unlike large-format IKEA stores in Bengaluru, Hyderabad, and Navi Mumbai that offer the complete IKEA experience, the city store model caters to urban customers seeking curated solutions. The 15,000 sq. ft. store at Pacific Mall will stock around 800 smaller ‘cash-and-carry’ products available for immediate purchase. Altogether, there will be a display of a total of 2,000 items. Customers will also have the option to order products from IKEA’s full range, including kitchen solutions. The Customer Distribution Centre in Farrukhnagar will deliver them.

This move highlights IKEA’s continued strategy to expand its footprint in India. It reflects IKEA’s focus on blending physical and digital experiences for modern urban shoppers.

Recent Transactions

Delhi’s commercial real estate market remains active, witnessing several high-value lease transactions recently, driven by strong demand from global brands and retailers seeking prime urban retail and office spaces.

Reflecting this trend, in August 2025, Tesla India Motors and Energy Pvt Ltd recently entered into a nine-year lease agreement for an 8,200 sq ft showroom space located in Delhi’s Aerocity.

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RBI Acquires Prime 4.6-Acre Nariman Point Land from MMRCL for ₹3,472 Crore

RBI Acquires Prime 4.6-Acre Nariman Point Land

In one of the biggest real estate transactions this year, the Reserve Bank of India (RBI) has acquired a 4.61-acre land parcel at the prestigious Nariman Point in South Mumbai for a whopping ₹3,472 crore. The deal was officially registered on September 5, attracting a stamp duty of over ₹208 crore, as documented via CRE Matrix.

The newly acquired plot holds immense strategic importance, situated near key landmarks such as the Maharashtra state government’s secretariat, Mantralaya, the Bombay High Court, and several corporate headquarters. Nariman Point has long been one of India’s most sought-after commercial real estate hubs, maintaining its premium despite the rise of newer business districts like Bandra-Kurla Complex (BKC) and Lower Parel.

Originally, the Mumbai Metro Rail Corporation Ltd (MMRCL), responsible for executing Mumbai’s metro projects, had planned to auction the land through a global tender. This marked the first time a parcel at Nariman Point had been put on the market since the area was developed as a planned commercial zone in the early 1970s. However, in January, the RBI expressed its interest in acquiring the site to expand its headquarters, leading MMRCL to cancel the tender and proceed with the direct sale.

The land is currently a vacant and open tract in Mumbai’s central business district, one of the most expensive commercial real estate markets in India. The RBI is expected to develop the site for institutional purposes, further consolidating its footprint in the city.

For MMRCL, the sale aligns with a broader effort to optimise land use and generate revenue to support ongoing metro expansion projects in Mumbai. The organisation holds several prime land parcels across South and Central Mumbai, aiming to monetise these assets to aid in the city’s growing public transport infrastructure needs.

Abhishek Kiran Gupta, CEO & Co-Founder, CRE Matrix, said, “The RBI’s ₹3,470-crore acquisition of the 4.16-acre Nariman Point plot marks a watershed moment in India’s real estate landscape. With close to 1.6 million sq ft of buildable potential, including 1,13,500 sq ft allocated for rehabilitation, this government-to-government deal not only reinforces Nariman Point’s status as Mumbai’s commercial heart but also establishes a new benchmark for premium land consolidation. Such landmark transactions, rare even by global standards, highlight the strong institutional confidence in Mumbai’s enduring role as the country’s financial epicenter.”

As Mumbai continues to evolve as a financial powerhouse, this landmark transaction highlights the importance of strategic land management by the government and financial institutions. The RBI’s acquisition of the Nariman Point plot reflects a long-term vision to strengthen India’s institutional infrastructure in its economic capital.

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US-Based NRI Couple Buys Two Sea-Facing Luxury Apartments in Bandra for ₹56 Crore

US NRI couple buys apartments in Bandra 1

A US-based Non-Resident Indian (NRI) couple has made headlines by purchasing two sea-facing luxury apartments in Bandra West, Mumbai, for a staggering ₹56 crore. The transaction was registered on September 3, 2025, and is among the highest-value deals recorded in the area, according to property registration documents accessed by CRE Matrix.

The two apartments are part of the prestigious Satguru Kismet project, located in a prime neighborhood close to Sachin Tendulkar’s bungalow, the vibrant Carter Road promenade, and the upcoming Bandra-Versova Sea Link connector. Each apartment spans 2,189 sq ft, with an additional balcony deck area of around 120 sq ft, offering panoramic sea views and ample living space. 

The apartments were sold at a record price of ₹1.27 lakh per sq ft, which places them among the highest rates in Bandra West. Industry experts noted that while some apartments in Pali Hill, Bandra West, have been sold at rates exceeding ₹1.40 lakh per sq ft, such sea-facing properties continue to attract ultra-premium pricing due to their location and exclusivity.

The financial structure of the deal reveals that the NRI couple made a significant down payment of nearly ₹10 crore to the developer, with the remaining balance payable in phased installments. Additionally, the buyers paid a stamp duty of ₹1.68 crore and a registration fee of ₹30,000 for each apartment, in line with regulatory requirements.

Currently, Satguru Kismet is an under-construction project with a RERA deadline set for December 2027. Given its ultra-prime location, sea-facing view, and high-end specifications, the project continues to attract interest from NRIs and wealthy individuals seeking luxury homes in Mumbai.

Bandra West has long been a favorite among affluent homebuyers, offering a unique blend of scenic coastal views, strong connectivity, and access to Mumbai’s best lifestyle amenities. The area’s status as a residential and commercial hotspot remains unchallenged, further driven by infrastructure developments such as the upcoming Bandra-Versova Sea Link. This landmark deal highlights the continued demand for high-value properties in Mumbai and reflects the confidence of NRIs in the city’s real estate market as a strong investment opportunity.

Recent Transactions

Recent high-value property deals highlight Mumbai’s booming luxury real estate market, with NRIs and investors acquiring premium sea-facing apartments in Bandra and nearby localities. In a recent transaction, Pradeep Navratna Gupta, Co-Founder and Vice Chairman of Anand Rathi Wealth, purchased a sprawling apartment at Lodha Sea Face in Worli for a staggering ₹1,31.74 crore.

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India’s Office Real Estate: A Narrative of Renewed Momentum and Tightening Markets

India Office Report

India’s office real estate sector is witnessing a strong recovery and structural shift in 2025, fuelled by sustained demand from Global Capability Centres (GCCs), healthy domestic corporate expansion, and a growing preference for quality Grade‑A office space. Across major cities from Bengaluru to Hyderabad and the Mumbai Metropolitan Region (MMR), vacancy rates are tightening, and rental values are on the rise, signaling investor confidence and robust occupier activity in a market that had grappled with pandemic‑era challenges.

According to the CREDAI‑CRE Matrix India Office Report for Q2 CY’25, vacancy rates in the office market have declined significantly as demand continues to outpace supply, backed by strong tenant interest and healthy absorption across key hubs.

 Key Takeaways

1. India’s office vacancy has declined to 14.7%

The overall office vacancy rate in India fell to 14.7% in H1 CY’25, reflecting a tightened market where occupier demand is absorbing new and existing space more quickly than it is coming to market. This improvement is supported by robust absorption of 34.5 million sq ft of office space in H1 CY’25.

2. 28.8 msf of new supply added in H1, with Pune contributing nearly 30%

Despite the strong leasing momentum, the market saw 28.8 million sq ft of new office supply in H1 CY’25, with Pune emerging as a key contributor — accounting for almost 30% of the new completions. The influx of fresh stock highlights continued development activity, especially in emerging micro‑markets outside the traditional metros.

3. Hyderabad is set to overtake MMR in office stock

One of the most striking trends in 2025 is Hyderabad’s rapid growth trajectory. The CREDAI‑CRE Matrix report notes that Hyderabad’s office stock is poised to overtake that of the MMR by the next quarter, underlining the city’s emerging role as a major office destination driven by IT/ITeS, services, and flexible workspace growth.

4. Pan‑India rentals climbed to ₹90.7 psf/month

Along with tightening vacancy, rental values across India’s office markets have climbed, with pan‑India averages rising to around ₹90.7 per sq ft per month — a reflection of landlords’ strengthened pricing power amid strong occupier demand.

What’s Driving the Office Market Upturn?

Strong occupier demand and steady business expansion are driving leasing activity across key office markets. This is tightening vacancies and strengthening rental values across cities.

GCC Expansion and Strong Domestic Demand

A central theme across recent reports is the significant contribution of Global Capability Centres (GCCs) to office leasing activity. GCCs, representing multinational service and technology centres, continue to expand their footprint in Indian cities. This has driven substantial absorption volumes and lowered vacancy. The trend is supported by India’s cost competitiveness, large talent pool, and favourable business environment.

Occupier Diversity and Sectoral Strength

Leasing activity is broad‑based — with IT/ITeS, BFSI (banking, financial services and insurance), and co‑working/flexible office models contributing significantly to demand. The diversified demand base has helped sustain absorption across cyclical variations, and flexible workspace continues to gain traction, especially in Hyderabad.

Emerging Cities and Supply Growth

While traditional hubs like Bengaluru, MMR, and Delhi‑NCR remain major contributors to demand, secondary and emerging markets — such as Pune and Hyderabad — are increasingly shaping supply dynamics. Pune’s strong addition of new stock and Hyderabad’s rapid growth reflect shifting preferences and infrastructure‑led expansion.

Rental Resilience

With vacancy rates shrinking and demand robust, landlords have been able to push rental values higher. Cities such as Delhi and Mumbai continue to command premium rents, contributing to the overall pan‑India rental increase.

City‑Level Snapshots

  • Bengaluru continues to lead leasing activity thanks to strong tech and GCC demand.
  • Delhi‑NCR remains a key market with ongoing corporate and BFSI leasing.
  • Hyderabad’s rapid office stock build‑out signals its rise as a major corporate hub.
  • Pune’s emergence as an important supply centre suggests offices are decentralising beyond traditional metros.

Outlook: What’s Next for India’s Office Real Estate?

The current market narrative points to sustained leasing momentum, continued infrastructure‑led expansion in emerging cities, and robust occupier confidence. Vacancy rates are likely to stay tight in the near term, while rental growth could continue as quality Grade‑A space remains in high demand. The ongoing GCC expansion story and domestic corporate growth are expected to remain key drivers of market performance.

In summary, India’s office market in 2025 exemplifies not just a post‑pandemic rebound — but a structural transformation rooted in diversified demand, new city‑level growth centres, and strengthening fundamentals.

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PVR INOX Secures 15-Year Lease for 10-Screen Megaplex at Borivali’s Sky City Mall

PVR INOX Secures 15-Year Lease for 10-Screen Megaplex at Borivali’s Sky City Mall

PVR INOX Ltd has expanded its footprint in Mumbai with a major leasing deal at Borivali’s Sky City Mall. According to property registration documents accessed by CRE Matrix, the cinema giant has leased 43,534 sq. ft. of retail space from Oberoi Realty for a 15-year term.

The agreement, registered on July 9, 2025, outlines a monthly rental of ₹91.42 lakh or 20% revenue share (biannually), whichever is higher. Additionally, PVR INOX has paid a security deposit of ₹10.97 crore, with a clause that mandates a 15% escalation every 36 months. The transaction also includes a five-year lock-in period, ensuring long-term stability for both parties.

Although the fit-out access was granted in March 2024, the rent commencement has been scheduled for July 30, 2025.

Coinciding with the lease registration, PVR INOX announced on August 22, 2025, the launch of a 10-screen megaplex at Sky City Mall. Spread across 43,500 sq. ft., the multiplex is designed to deliver a premium cinematic experience.

The megaplex features foyers, lounges, and 10 uniquely designed auditoriums with a combined seating capacity of 1,372. This opening marks another milestone in PVR INOX’s strategy of strengthening its presence in Mumbai’s suburban markets, where demand for modern entertainment infrastructure continues to rise.

The Borivali megaplex aligns with PVR INOX’s ongoing expansion plans as it consolidates its leadership position in the Indian multiplex industry. By entering into a long-term agreement with Oberoi Realty, the company ensures a strong foothold in one of Mumbai’s busiest suburban retail hubs.

With Borivali emerging as a vibrant residential and commercial catchment, the Sky City Mall megaplex is expected to attract significant footfall. This has further boosted the area’s retail and entertainment ecosystem.

Recent Transactions

Mumbai’s commercial real estate market continues to witness high-value transactions, with leading developers, corporates, and retailers securing premium spaces across the city. From long-term office leases to retail expansions, these deals highlight strong demand and confidence in Mumbai’s growth potential. 

In a recent transaction, Global tech giant Apple leased 12,616 sq ft of premium retail space in Mumbai’s fast-growing suburb of Borivali. In another transaction, Tesla leased a 24,500 sq. ft space in Lodha Industrial and Logistics Park, Kurla West, to set up its first vehicle service center in India.

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Anand Rathi Wealth’s Co-Founder Buys ₹132 Cr Flat at Lodha Sea Face, Worli

Anand Rathi Group family buys 10,000-sq-ft flat in Lodha's Worli project

Mumbai’s luxury real estate market continues to make headlines, with yet another record-breaking transaction in Worli. Pradeep Navratna Gupta, Co-Founder and Vice Chairman of Anand Rathi Wealth, along with his wife Preeti Pradeep Gupta, has purchased a sprawling apartment at Lodha Sea Face for a staggering ₹1,31.74 crore.

The deal, executed on August 20, 2025, was registered with Lodha Developers Ltd as the seller, according to documents accessed via CRE Matrix. The couple paid ₹7.90 crore in stamp duty for the property.

The sprawling apartment is located on the 40th floor of the project, identified as Apartment No. 4001 in Wing A. With a carpet area of 10,538 sq. ft. and seven dedicated car parkings, the residence offers both scale and exclusivity. 

What makes this deal stand out even more is the project’s positioning in Mumbai’s high-end market. With prices crossing ₹1.25 lakh per sq. ft., Lodha Sea Face sits at the top of the city’s most desirable addresses.

Highlighting the significance of the transaction, Abhishek Kiran Gupta, CEO and Co-Founder of CRE Matrix, remarked that this ₹130+ crore deal is yet another validation of Mumbai’s unmatched position in India’s luxury housing market. He noted that Worli continues to attract top business leaders and wealth creators, reaffirming the city as the ultimate destination for luxury real estate investment.

These transactions highlight a growing trend where HNIs and business leaders are increasingly investing in luxury real estate. More than just an upgrade in lifestyle, it represents a reliable long-term investment.

Developed by the Lodha Group, Lodha Sea Face is one of the most exclusive residential towers in Mumbai. It combines expansive layouts with bespoke amenities and unmatched sea views, making it a top choice for India’s elite.

As Worli cements its status as a luxury residential hub, deals like these reaffirm Mumbai’s reputation as the undisputed capital of India’s luxury housing market.

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Eaton Technologies Leases 1.5 Lakh Sq Ft Office Space in Pune’s Baner from K Raheja Corp Subsidiary

Eaton Technologies Leases 1.5 Lakh Sq Ft Office Space

Eaton Technologies India has made a significant office space commitment in Pune, leasing 150,000 sq ft at Aditya Shagun Infinity IT Park in Baner for a 10-year term. According to property registration documents accessed by CRE Matrix, the deal carries a potential rental outflow exceeding ₹250 crore over the lease period.

The leased space, spread across three floors, has been taken from Asterope Properties Pvt Ltd—part of K Raheja Corp—at a starting monthly rent of ₹1.65 crore (₹110 per sq ft) with an annual escalation of 4.5%. The agreement includes a five-year lock-in period, a security deposit of ₹9.9 crore, and parking for 150 four-wheelers and 150 two-wheelers. Eaton also holds the option to lease an additional 47,000 sq ft within the same complex.

The lease commences on July 15, 2025, with occupancy phased across three timelines—July 15, December 1, and January 15, 2026. Fit-out rent is set at ₹2,400 per sq ft per month, while common area maintenance (CAM) charges are fixed at ₹14.75 per sq ft per month.

Eaton Technologies, the Indian arm of the US-based intelligent power management company Eaton Corporation, plans to establish its Global Capability Center (GCC) at this location. This move underscores India’s growing role as a GCC hub, driven by strong talent availability, competitive operating costs, and modern infrastructure.

The deal is part of a rising trend of large, pre-committed office leases in Pune, especially in the western corridor covering Baner, Balewadi, and Hinjewadi. Over the past 18 months, this region has attracted major commitments from multinational corporations across technology, engineering, and financial services sectors.

With its strategic location and high-grade infrastructure, Baner continues to position itself as a preferred destination for companies looking to set up large-scale operations in India.

Recent Transactions

Pune’s commercial real estate market has seen a surge in activity recently, with major corporates securing premium office spaces across key business districts. This reflects strong demand driven by IT, engineering, and global capability centres expanding operations in the city.

In a similar transaction earlier this year, Citigroup Inc. secured over 7.7 lakh sq ft of office space through a long-term lease in Pune’s Kharadi. In another transaction, Awfis Space Solutions leased 1.97 lakh sq ft of office space in the same locality of Pune.

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Home Sales Slow in Pune’s IT Corridors Amid Job Uncertainty and Rising Prices

Home Sales Slow in Pune’s IT Corridors

Pune’s residential real estate market is showing clear signs of divergence. While overall sales value continues to rise, housing demand in the city’s IT-dominated western and eastern zones has moderated, reflecting a mix of global uncertainty, job market concerns, and sharp price appreciation.

IT Hubs Feel the Pressure

According to data from Credai Pune and CRE Matrix, home sales in Pune’s western and eastern zones declined marginally in the first half of 2025. These areas, home to major IT clusters, recorded 15,845 units sold between January and June, compared to 16,372 units in the same period last year.

The western zone spans Baner, Aundh, Hinjewadi, and Wakad, while the eastern zone includes Yerawada, Viman Nagar, Kalyani Nagar, and Kharadi. Together, these locations typically account for 40–60% of Pune’s total housing transactions, making even a modest slowdown significant for the city’s broader market.

Industry observers point to stress in the IT employment environment as a key factor. Global trade tensions and tariff-related uncertainties, particularly linked to the US market, have added to concerns around job stability, dampening buying sentiment among tech professionals.

Prices Rise Faster Than Volumes

Despite the dip in the number of units sold, the value of transactions has continued to grow. Average home prices in Pune have risen by about 27% over the last three years, with premium housing demand accelerating sharply.

Homes priced above ₹1 crore have more than doubled in sales, highlighting a strong preference for larger, higher-ticket properties. In micro-markets such as Baner, Balewadi, and Kharadi, 2 BHK apartments now cost upwards of ₹1.2 crore, while 3 BHK units are typically priced above ₹1.7 crore.

This trend indicates that while some budget-sensitive buyers are pausing purchases, affluent buyers are still active, often upgrading to larger homes rather than opting out of the market.

East Pune, meanwhile, maintained a steady performance, contributing roughly 25% of new launches and 22% of overall sales. While demand here has not collapsed, it has clearly lost some momentum compared to previous years.

Sticker Shock and Changing Buyer Preferences

Developers believe affordability is becoming a growing concern. Over the past five years, average apartment ticket prices in Pune have jumped by nearly 40%, while average home sizes have increased by about 25%. This combination has pushed many homes beyond the reach of first-time or mid-income buyers.

Some industry leaders suggest that reducing unit sizes, without cutting headline prices, could help revive demand among buyers with fixed budgets. Smaller configurations may allow developers to maintain pricing while making homes more accessible to a broader segment of the market.

Outlook: Value Growth, Volume Caution

Pune’s housing market is not facing a downturn, but it is clearly recalibrating. Demand in IT-centric micro-markets is becoming more selective, influenced by employment uncertainty and sharp price escalation. At the same time, rising sales value underscores a sustained appetite for premium and spacious homes.

In the near term, the market’s direction will likely depend on clarity in the global IT outlook and how developers respond to affordability pressures. For now, Pune’s real estate story remains one of higher value growth, but with cautious volumes in its traditional IT strongholds.

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India’s Housing Market in H1 2025: Luxury Takes the Lead

IndiaHousing Report

India’s residential real estate market in the first half of 2025 presented a compelling paradox — record sales value alongside declining volume. It clearly highlights a shift toward premium and luxury homes while affordable markets struggle to find traction.

A Strong Value Story: ₹3.6 Lakh Crore Record Sales

According to the CREDAI-CRE India Housing Report for H1 CY’25, Tier-1 Indian cities collectively clocked housing sales worth a record ₹3.6 lakh crore in the first half of 2025 — a 9% increase in value compared with H1 2024 — even though the number of units sold fell around 4%.

Higher ticket sizes drove this value growth — the average unit price rose 14% YoY to ₹1.42 Cr, as buyers gravitated toward larger, better-located properties.

This dynamic underscores an important trend: value is outpacing volume — India’s real estate story is increasingly about premium positioning rather than sheer unit sales.

Regional Dynamics: Where Demand Is Most Intense

National Capital Region (NCR): A Powerful Leader

The NCR remained the top market by sales value in H1 2025 with a 26% share, fueled heavily by luxury homes priced above ₹3 crore.

Mumbai Metropolitan Region (MMR): Premium on the Rise

MMR maintained a strong position with a 23% revenue share, signaling continued demand in India’s traditional marquee market.

Southern Powerhouses: Unit Sales Outpace NCR

In unit terms, Southern India — especially Bengaluru, Chennai, and Hyderabad — led the pack, surpassing the NCR in the number of units sold, though not always in value.

This divergence — South leading in volume, NCR and Mumbai driving value — points to diversified demand dynamics across regions.

Luxury Accelerates; Affordable Struggles

One of the most notable shifts seen in multiple markets is the surge of high-end housing.

Hyderabad’s Market: Luxury at the Helm

In Hyderabad, flats priced above ₹3 crore accounted for more than a third of total sales value, making it the second costliest housing market in India after NCR.

By contrast, affordable housing, under ₹70 lakh, accounted for just ~3% of value, showing how scarcity in the lower end has reshaped demand patterns.

Overall Premium Surge

Across Tier-1 cities:

  • Luxury and premium homes drove value growth.
  • Average ticket sizes climbed significantly.
  • Developers responded with fewer launches but more aspirational inventory.

This confirms a buyer preference shift toward quality and lifestyle over basic affordability, a key narrative in 2025’s housing landscape.

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Tesla Leases 8,200 Sq Ft Showroom in Delhi’s Aerocity at ₹17.22 Lakh Per Month

Tesla Leases 8,200 Sq Ft Showroom in Delhi’s Aerocity

Elon Musk’s Tesla India Motors and Energy Pvt Ltd is accelerating its India expansion with a premium lease deal in the capital. According to property documents accessed by CRE Matrix, the electric vehicle maker has signed a nine-year agreement for an 8,200 sq ft showroom space in Delhi’s Aerocity, a high-profile hospitality and commercial hub located near Indira Gandhi International Airport. 

The lease, registered on July 30 with Oak Infrastructure Pvt Ltd, is valued at ₹210 per sq ft per month, amounting to ₹17.22 lakh in monthly rent. Tesla has also taken 10 parking slots at ₹6,000 per month each, alongside a security deposit of ₹1.03 crore.

The sublease begins on March 15, 2025, with a 120-day fit-out period before the commencement of rent payments on July 13, 2025. The agreement includes a three-year lock-in period, a 15% rent escalation every three years, and common area charges of ₹33.5 per sq ft per month, backed by a refundable CAM deposit of ₹16.48 lakh.

This Aerocity lease marks Tesla’s second major retail space in India following its high-profile entry into the market last month. On June 15, the company leased its first showroom at Maker Maxity Mall in Mumbai’s Bandra Kurla Complex, taking 4,000 sq ft in one of the country’s most expensive commercial districts for ₹23.38 crore over five years, and inaugurated it on July 15.

Tesla has not limited its expansion to retail spaces alone. Earlier, the company also secured nearly 51,000 sq ft of super built-up area at Orchid Business Park on Sohna Road, Gurugram, for a nine-year term at a starting monthly rent of ₹40.17 lakh. With prime locations now locked in across Mumbai, Gurugram, and Delhi, Tesla is positioning itself strategically in India’s most influential business hubs, setting the stage for an aggressive brand rollout in the world’s third-largest automobile market.

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