Bengaluru traffic woes, anyone? Ferrari opens massive pre-owned car centre at ₹8 lakh monthly rent

Bengaluru’s traffic woes and infrastructure challenges have not deterred Italian luxury carmaker Ferrari from opening South India’s first service centre and showroom for pre-owned cars in South India. Through its Indian dealer, Select Cars Private Limited, Ferrari has leased a 10,000 sq ft retail space in North Bengaluru, near Kempegowda International Airport, at a monthly rent of ₹8 lakh, registration documents accessed by Propstack showed.

The facility is Ferrari’s first official service centre in Bengaluru. Operated by Select Cars, the official Ferrari importer in New Delhi, the new facility aims to provide after-sales support to Ferrari owners in South India. According to sources, Bengaluru is home to around 20-30 Ferrari owners, with 85-90% being first-time buyers.

The rent for the retail space, located near the ITC factory in Meenakunte Hosur village, commenced on March 1, 2024, according to the lease deed accessed by data analytics firm Propstack. Ferrari leased the retail space through its Indian dealer on two floors, with the ground floor covering 7,500 sq ft and the first floor covering 2,500 sq ft, according to the lease deed.

The documents showed that the 10-year lease agreement includes an annual rental escalation of 4.7%, with Ferrari paying a security deposit of ₹80 lakh.

According to Ferrari India's website, the luxury brand operates two other showrooms in the country, one in Mumbai (Navnit Motors) and the other in Delhi (Select Cars).

Select Cars officials confirmed that the space will be used as a service centre and also a showroom for pre-owned cars, making it the first retail store in Bengaluru. While the city lacks a flagship Ferrari store, prospective car buyers can approach the Bengaluru showroom to facilitate purchases through the Delhi showroom. The showroom was launched on March 21, 2025, officials added.

Additionally, Select Cars had been granted a four-month maintenance-free period until the retail space is ready for business operations.

The lease includes a three-month lock-in period, and the monthly rent will commence either after the rent-free period or once the required 30 KW power supply for business operations is arranged, according to the lease document.

Also Read: Bengaluru’s first downpour of 2025 sparks chaos: Flooded roads, flight diversions, and a tragic loss

Crumbling road infrastructure in Bengaluru

Bengaluru experienced its first intense downpour on March 23 this year, triggering widespread civic disruptions.

The heavy rainfall led to severe waterlogging on major roads, causing traffic snarls and exposing the city’s infrastructure shortcomings. The sudden showers brought several areas to a standstill, prompting civic workers and the Bengaluru Traffic Police to step in and restore normalcy.

According to the Bruhat Bengaluru Mahanagara Palike records, around 2,000 homes were affected by flooding in 2024. The rains also took a toll on Bengaluru’s roads, with over 10,000 potholes identified by the BBMP during the year. While most were filled, recurring problems revealed shortcomings in repair quality.

In December, the BBMP experimented with Ecofix mix technology, utilising industrial waste to fill waterlogged potholes. While this innovation holds promise, it highlights the urgent need for long-lasting road repair solutions to prevent recurring infrastructure failures.

Also Read: India's ultra-rich to invest 22-25% of their wealth in residential properties for end-use: Knight Frank

Indians aged 19-35 with incomes over ₹1 crore prefer owning luxury cars over real estate

Knight Frank's Next Gen Survey – India, which studied individuals aged 19 to 35 with an income exceeding ₹1 crore, revealed that over 47% of them prefer owning a luxury car over real estate (28%).

It said that if respondents were to receive a substantial windfall, nearly half indicated they would prioritize experiences over material possessions.

Also Read: Tesla to open India's first showroom at Maker Maxity in BKC Mumbai, to pay ₹35 lakh a month as rent: Sources

Luxury cars were found to be the most coveted asset for around 46.5 percent of the respondents. They were followed by high-end real estate properties and private jets favoured by around 9.9 percent of the respondents. The study noted that car-centric interest showed a rising interest in status symbols and mobility.