Sebi leases Rs 7 lakh/month Mumbai luxury flat for chairman; regulator says deal within Board policy – check details here

The Securities and Exchange Board of India (Sebi) has leased a luxury apartment in Mumbai’s upscale Prabhadevi locality for its chairman at a monthly rent of Rs 7 lakh. The apartment will house Sebi Chairman Tuhin Kanta Pandey, who took charge on March 1 this year.According to Sebi, the arrangement follows its existing policy. “Sebi has a Board approved policy for providing leased accommodation to its Chairman, Whole Time Members, Executive Directors and all other officers of Sebi. The lease amount varies according to the rank / designation of the officers of the Board,” the regulator told ET.The three-year lease, signed on September 3, 2025, covers a five-bedroom apartment with a 3,000 sq. ft. carpet area in Rustomjee Crown, a premium residential project overlooking the Arabian Sea. The unit, located on the 51st floor, comes with four car parks. The deal also includes a security deposit of Rs 42 lakh and carries a 5% annual rent escalation clause, documents accessed via Zapkey.com showed.Sebi said the leased apartment complies with its Board-approved policy, with both the size and rent falling within permitted limits. It added that the rent was fixed based on a valuation report by a leading property valuer.The transaction reflects the sustained demand in Mumbai’s luxury housing market, which continues to attract CXOs, expats, and institutional tenants despite soaring prices.