MUMBAI: The Securities and Exchange Board has rented a 3,000-sqft, 5-bedroom apartment in the tony Rustomjee Crown towers in the Prabhadevi area of central Mumbai for chairman Tuhin Kanta Pandey and his family. According to the property registration documents accessed by portal Zapkey, Sebi will be paying a starting monthly rent of Rs 7 lakh, with a 5% annual increase.
The apartment also comes with four covered car parkings. The rent agreement was registered on September 3, and the Sebi also paid a security deposit of Rs 42 lakh. The three-year lease also has a lock-in period till September 4, 2026, according to the lease documents.
The apartment is owned by three people based in Mumbai and Raipur. A Sebi official said the nature, size, and the lease amount of the apartment for the chairman is in line with its policy.
"Sebi has a board-approved policy for providing leased accommodation to the chairman, whole-time members, executive directors and all other officers. The lease amount varies according to the rank/designation of the officers," Sebi said, adding the size of the premise and the lease amount in this present instance is also within the approved limit.
The lease amount was determined in line with a valuation report of a leading property valuer.