By Aishwarya

Copyright thehindubusinessline

Market regulator SEBI has leased a luxury apartment in south Mumbai’s Prabhadevi for its chairman, Tuhin Kanta Pandey, with a monthly rent of ₹7 lakh, according to data sourced from Zapkey.

The five-BHK apartment is located in tower A of Rustomjee Crown, comes with four car parks. The agreement, signed on September 3, 2025, has a tenure of three years with an annual escalation of 5 per cent. The regulator will pay a monthly licence fee of ₹7 lakh for the first year, from September 5, 2025, to September 4, 2026. The rent will rise 5 per cent to ₹7.35 lakh in the second year, with a similar 5 per cent escalation for the third year.

Additionally, SEBI has paid stamp duty of ₹69,500 along with the applicable registration fees, and deposited ₹42 lakh as security for the lease. The apartment will serve as the official residence of the SEBI chairman and his family for the 36-month lease period.

Rustomjee Crown is spread across around 3,000 sq ft, and is among Mumbai’s premium residential developments, located on a 5.75-acre gated estate in Prabhadevi. The project offers large three-, four- and five-bedroom residences with luxury amenities, catering to high-net-worth individuals and corporate tenants. The location provides easy access to both the Bandra Kurla Complex (BKC) and south Mumbai’s business districts.

The landlords of the apartment are Vijay Shrishrimal, Sanjay Shrishrimal and Dhirendra Shrishrimal, records show.

Published on September 16, 2025