Market regulator SEBI has entered into a lease agreement for a luxury apartment in Prabhadevi, South Mumbai, for its chairman, Tuhin Kanta Pandey, at a monthly rent of ₹7 lakh, according to information obtained from Zapkey.
The five-bedroom apartment is situated in Tower A of Rustomjee Crown and includes four designated car parking spaces. The lease agreement, signed on September 3, 2025, spans three years and includes an annual rent increase of 5 percent. For the first year, from September 5, 2025, to September 4, 2026, SEBI will pay a monthly license fee of ₹7 lakh. In the second year, the rent will escalate to ₹7.35 lakh, with a similar 5 percent increase in the third year.
SEBI has also paid stamp duty amounting to ₹69,500 along with applicable registration fees, and has provided a security deposit of ₹42 lakh for the lease. This apartment will serve as the official residence for the SEBI chairman and his family over the 36-month lease term.
Rustomjee Crown is built on approximately 3,000 square feet of land and is regarded as one of Mumbai’s premium residential developments, located within a 5.75-acre gated community in Prabhadevi. The development features large residences of three, four, and five bedrooms, equipped with luxury amenities, tailored to affluent individuals and corporate tenants. Its location ensures easy access to both the Bandra Kurla Complex (BKC) and the business hubs of South Mumbai.
The apartment’s landlords are Vijay Shrishrimal, Sanjay Shrishrimal, and Dhirendra Shrishrimal, as per official records.
Published on September 16, 2025
