News: Green SM Leases 1,050 Parking Bays in Greater Noida-01-09-2026
Vietnamese electric vehicle (EV) taxi company Green SM has leased nearly 4 lakh sq ft in Greater Noida to park 1,050 cars and place five containers, at a total rent of Rs 15.5 crore, according to property registration documents accessed by Propstack.
The space is in the basement of a building named Golden Grande in Sector-19, the documents show. The five-year lease began on May 27, 2026, at a monthly rent of Rs 23.38 lakh. The premises have been given on a leave and license basis for parking electric vehicles owned or operated by the licensee.
Green SM India Private Limited is the tenant. Ashrai Infra Private Limited is the licensor, acting under a Facilitation Agreement dated May 26, 2026, with the primary owner/lessor, Advance Compusoft Private Limited.
The agreement mentions a chargeable area of 35,400 sq metres but no carpet area. Each of the 1,050 parking slots costs Rs 2,200 a month, adding up to Rs 23.10 lakh. Five container spaces meant for EV charging infrastructure are charged at Rs 5,600 each, or Rs 28,000 a month in all. The security deposit is Rs 1.16 crore.
An email query was sent to Green SM and Advance Compusoft Pvt Ltd. Ashrai Infra Pvt Ltd could not be reached for comment.
Raja Seetharaman, co-founder Propstack, said large-scale EV operations are turning standard basement infrastructure into revenue-generating, tech-enabled charging hubs, and that the 1,050-bay deal shows how mobility is reshaping real estate demand.
Green SM started its electric taxi service in Delhi-NCR a few months ago. Founded in Vietnam in 2023, it is backed by Pham Nhat Vuong, chairman of Vietnam’s Vingroup and founder of EV maker VinFast.
According to media reports, the company plans to run the service with the VinFast Limo Green, a seven-seater electric SUV developed for passenger transport, including daily commutes, family travel, airport transfers and business trips. The reports said vehicles would carry drinking water, wet tissues and other amenities, and a safety system with interior and exterior cameras, AI-enabled technology and emergency buttons for drivers and passengers.
