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The Securities and Exchange Board of India (SEBI) has leased a 5 BHK apartment in Prabhadevi, Mumbai for its new chairman, Tuhin Kanta Pandey, at a monthly rent starting at INR 7 lakh. The three-year lease totals INR 2.65 crore, with annual escalations. The apartment is part of Rustomjee Crown Tower and includes four parking spaces. SEBI clarified that the arrangement falls under its approved housing policy. The deal comes amid a steady rise in luxury rental transactions in Mumbai, where more than 3 lakh agreements are registered annually.
The Securities and Exchange Board of India (SEBI) has leased a 5 BHK luxury apartment in Prabhadevi, Mumbai, for its chairman, Tuhin Kanta Pandey. Registration documents show that the monthly rent has been fixed at INR 7 lakh for the first year, INR 7.35 lakh for the second, and INR 7.71 lakh for the third, with the overall rent estimated at INR 2.65 crore. Advertisement
The apartment, located in Rustomjee Crown Tower, was leased from individual owner Vijay Shrishrimal. The unit includes four parking slots and is situated about 30 minutes from SEBI's headquarters at Bandra Kurla Complex. The lease was executed on September 3, with a 12-month lock-in period, a security deposit of INR 42 lakh, and applicable charges of INR 69,500 as stamp duty and INR 1,000 as registration fee.
Pandey took charge as SEBI Chairman on March 1, 2025, succeeding Madhabi Puri Buch. SEBI confirmed that the arrangement is in line with its board-approved policy that provides leased housing to the chairman, whole-time members, executive directors, and other officers, with rent and size determined by rank.
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