Elon Musk’s company Tesla India Motor & Energy has leased an office space in Panchshil Business Park in Viman Nagar in Pune. This development comes days after its senior executives reportedly met Invest India officials last week to discuss plans of entering India and setting up a manufacturing electric vehicle plant. The company has entered into a five-year lease agreement with Tablespace Technologies to lease 5,850 sq.ft office.
The company will pay ₹11.65 lakh as monthly rent and a security deposit of ₹34.95 lakh for leasing the space for 60 months.
The deal will include five car parks and 10 bike parks as per the agreement registered on July 26, 2023, according to the documents accessed and shared by CRE Matrix, a real estate analytics firm.
As per the documents, both the companies agreed for a lock in period of 36 months, with a 5% per annum escalation clause. The rent will commence from October 1, 2023.
Panchshil Business Park at Viman Nagar has a development size of 10,77,181 sq. Ft and is under construction, according to Panschil Realty website. It is located 500 metres from Nagar Road and is just three kilometres away from the Pune international airport. It is easily accessible from residential areas like Kalyani Nagar, Koregaon Park, Wadgaonsheri and Kharadi.
