Mobility service provider Green SM has signed a five year lease for 35,400 square metres of parking space in Greater Noida, including 1,050 basement car parks and space for five containerised charging stations, with a total rental outlay of ₹15.5 crore. The monthly rent starts at ₹23.38 lakh in the first year with 5 per cent annual escalation, and the firm has paid ₹1.16 crore as security deposit. Green SM, the exclusive fleet operator for VinFast Group, launched its cab service in Delhi NCR in June this year.
Why it matters: The deal demonstrates how fleet operators are securing large scale charging infrastructure through long term property leases, converting basement parking into dedicated EV hubs. It signals growing demand for containerised charging solutions in commercial real estate as mobility providers scale operations in Indian metro regions.