IT major Cognizant has put its Chennai headquarters up for sale. The sale of the prime property, which has been serving as Cognizant’s India headquarters for over two decades, will fetch the company at least Rs 750 crore, Times of India reported. The property, which is located at Okkiyam Thoraipakkam, comprises a 15-acre land parcel and four lakh sq ft office space on Chennai’s IT corridor.
Real estate consultant JLL has been mandated by Cognizant to sell the property. It is in early discussions with local developers Baashyaam Group and Casagrand for the sale.
Cognizant plans to vacate the campus by December 2024, according to the TOI report. The company will shift to its new India headquarters at MEPZ near Tambaram on the GST Road.
The shifting is part of Cognizant’s ongoing process of consolidating its operations in three of its own buildings at MEPZ, Sholinganallur, and Siruseri.
Cognizant’s current Thoraipakkam campus is the one from where co-founders Lakshmi Narayanan and Chandrasekaran operated as well. Cognizant’s remote ringing of the Nasdaq opening bell was also held on this campus.
Comments
0 comment