The Wadhwa Group leases commercial space in Mumbai for 2nd Ferrari showroom in India

Well known Italian sports car brand, Ferrari had opened its dealership in New Delhi back in 2011. The economic turnaround witnessed in India after it had opened its controlled economy had thrown up a new breed of young and super-rich Indians. Ferrari was quick to cash on this new found affluence and increasing passion for super luxury cars among the Indians.

The Italian Company is now going to open its next showroom in Mumbai. It is reported that well known Mumbai based Real Estate Company; the Wadhwa Group has leased commercial space to Navnit Motors to set up second Ferrari dealership in India. The showroom will be spread across 3,000 sq ft area on the ground floor of Platina, a commercial building in Bandra-Kurla Complex.

Navin Makhija, Managing Director, the Wadhwa Group said that BKC is the prime spot for locating the showroom of a luxury brand such as Ferrari. There cannot be a better setting than the PLATINI to showcase a brand so premium like Ferrari.

The showroom will be opened by the end of October. Space has been leased for five years at a rent of Rs. 450 per sq ft. The PLATINA houses some well-known multinational companies, corporate houses, software companies and international banks. The rent is around Rs. 300 to Rs. 325 per sq.ft. However, the lease rent of the ground floor is higher.

Sharad Kachalia, Director, Navnit Motors said that the association with Ferrari is in an incubation stage and hope to develop it into a worthy association that is rewarding for the company and also the consumers.

Ferrari opened its first showroom at Connaught Place, New Delhi on May 26th, 2011 and became the 58th market where the Prancing Horse has its operation. It has its service centre that is located at Plot No 34, Sector 18, Gurgaon.