Cognizant, a major tech company, is planning to sell its headquarters in Chennai, India, after more than 20 years, according to a report by The Times of India. The property, located on a 15-acre land with a 4 lakh sq ft office space on Chennai’s IT Corridor, could sell for around Rs 750-800 crore.
The international real estate firm JLL has been hired to handle the sale, which is expected to be completed by December 2024. Cognizant might then move its headquarters to the MEPZ campus near Tambaram on GST Road.
The current headquarters is at Okkiyam Thoraipakkam on Old Mahabalipuram Road (OMR). JLL is already in talks with potential buyers, including local developers like Baashyaam Group and Casagrand, but no deal has been finalized yet. Both Cognizant and JLL have not commented on the sale, stating that the discussions are still in the early stages.
Cognizant plans to wrap up the sale and leave the current campus by the end of 2024. This decision is part of the company’s strategy to move its operations to three of its own buildings in MEPZ, Sholinganallur, and Siruseri. As a result, Cognizant has been giving up leased office spaces across Chennai, including locations like Ramanujan IT Park, DLF, and St Mary’s Road in R A Puram.
The Thoraipakkam office has been an important site for Cognizant for over 20 years, serving as its main base in India. It has also been a key location for significant events, like the virtual ringing of the Nasdaq opening bell by Cognizant.
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