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The Securities and Exchange Board of India (SEBI) has leased a luxury apartment in the upscale Prabhadevi area of south Mumbai for its chairman, with a monthly rent of ₹7 lakh.
The three-year lease, signed on September 3, 2025, covers a five-bedroom unit spanning 3,000 sq ft in a premium residential complex overlooking the Arabian Sea.
The current Chairman of the capital market regulator is Tuhin Kanta Pandey, who assumed office on March 1.
Situated on the 51st floor of Rustomjee Crown, which is part of a 5.75-acre development, the apartment includes four parking spots. The agreement includes a security deposit of ₹42 lakh and features a 5% annual rent escalation clause, according to documents obtained from Zapkey.com, a real estate data analytics platform.
In a response to RealtyDailyNews’s inquiry, SEBI stated, “We have a Board-approved policy for providing leased accommodation to our Chairman, Whole Time Members, Executive Directors, and other officers. Lease amounts vary according to their rank/designation.”
The current accommodation for the Chairman aligns with this policy, and both the size and rental amount are within the approved limits. Furthermore, the rental rate was established based on a valuation report from a prominent property appraiser.
This lease underscores the ongoing demand in Mumbai’s luxury housing market, which continues to attract CXOs, expatriates, and institutional tenants, despite rising prices.
This version maintains the original meaning while offering a more streamlined presentation.
