Sebi leases Rs 7 lakh/month luxury flat for chairman - check details here

The Securities and Exchange Board of India (Sebi) has leased a luxury flat successful Mumbai's upscale Prabhadevi locality for its president astatine a monthly rent of Rs 7 lakh. The flat volition location Sebi Chairman Tuhin Kanta Pandey, who took complaint connected March 1 this year.According to Sebi, the statement follows its existing policy. "Sebi has a Board approved argumentation for providing leased accommodation to its Chairman, Whole Time Members, Executive Directors and each different officers of Sebi. The lease magnitude varies according to the fertile / designation of the officers of the Board," the regulator told ET.The three-year lease, signed connected September 3, 2025, covers a five-bedroom flat with a 3,000 sq.

ft. carpet country successful Rustomjee Crown, a premium residential task overlooking the Arabian Sea. The unit, located connected the 51st floor, comes with 4 car parks. The woody besides includes a information deposit of Rs 42 lakh and carries a 5% yearly rent escalation clause, documents accessed via Zapkey.com showed.Sebi said the leased flat complies with its Board-approved policy, with some the size and rent falling wrong permitted limits. It added that the rent was fixed based connected a valuation study by a starring spot valuer.The transaction reflects the sustained request successful Mumbai's luxury lodging market, which continues to pull CXOs, expats, and organization tenants contempt soaring prices.