September 17th 2025.
The bustling city of Mumbai recently saw the Securities and Exchange Board of India (SEBI) making headlines with their latest move. After much anticipation, the regulatory body has successfully secured a spacious 5-bedroom apartment in the posh Prabhadevi area for their newly appointed Chairman, Tuhin Kanta Pandey. According to property registration documents reviewed by Zapkey, the monthly rent for this luxurious abode starts at a whopping Rs 7 lakh. The lease agreement spans a period of three years, with a grand total of Rs 2.65 crore as rent.
Taking over the reins from his predecessor, Madhabi Puri Buch, Tuhin Kanta Pandey officially took charge as SEBI Chairman on March 1, 2025. The extravagant apartment, located in the prestigious Rustomjee Crown Tower, boasts of not one, not two, but four parking spots. With the SEBI office a mere 30-minute drive away, Pandey will have no trouble commuting to work.
In other news, SEBI has extended the deadline for their Special Settlement Scheme to October 16, specifically for cases linked to unregulated algorithm trading platforms. Now, let's delve into the intricate details of the lease agreement and its terms. As mentioned earlier, the rent for this opulent apartment starts at Rs 7 lakh per month for the first year. In the second year, it increases to Rs 7.35 lakh and further escalates to Rs 7.71 lakh in the third year. However, the lease does come with a mandatory 12-month lock-in period, and SEBI has paid a security deposit of Rs 42 lakh. The registration process was completed on September 3, 2025, with a stamp duty of Rs 69,500 and a registration fee of Rs 1,000.
The property is leased from a gentleman named Vijay Shrishrimal, who could not be reached for comment. Moving on to the current Chairman's recent statements, Tuhin Kanta Pandey has expressed his confidence in resolving all issues that have been hindering the IPO of the National Stock Exchange (NSE). Shedding light on the lease policy, SEBI stated that it is a board-approved practice for providing accommodation to their Chairman and other esteemed officials. The rent amount is determined based on the rank of the individual, and the size and cost of this particular apartment fall well within the approved limits. Furthermore, SEBI has also clarified that the rent was decided after consulting with a renowned property valuer.
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