Mumbai to get its first Ferrari showroom

Thanks to realty developer The Wadhwa Group, Ferrari will now set up its first showroom in Mumbai. The iconic sports car brand will set up its first shop through its partner Navnit Motor in the city.

The showroom for the world's super luxury car brand – Ferrari - will be spread over 3,000 sq ft carpet area on the ground floor of commercial building Platina in Bandra-Kurla Complex. The showroom would be launched by the end of October.

The lease agreement is for five years with monthly lease rentals will be Rs 450 per sq ft. Ongoing lease rentals at Platina are around Rs 300-325 per sq ft per month.

However, lease rental for this deal is higher due to the frontage on the ground floor, suitable location for a showroom.

In 2011, the Italian marquee sports car brand set up its first showroom in Delhi.

(Image: Reuters)