IT major Cognizant is selling its long-standing Indian headquarters in Chennai. The property, located on Chennai's IT Corridor in Okkiyam Thoraipakkam, includes a 15-acre land parcel and 400,000 square feet of office space. As per real estate industry estimates, the property could fetch around Rs 750 crore to Rs 800 crore to the company.
The Thoraipakkam office has been Cognizant’s India headquarters for more than 20 years. It is where Cognizant co-founders – Lakshmi Narayanan and Chandrasekaran operated from. It is also the site of a landmark event where the company remotely rang the Nasdaq opening bell, marking a significant milestone in its growth. The campus also represents Cognizant's first fully owned property in Chennai, a step up from its previous rented space in the CSI building near the US Consulate
Cognizant aims to sell Chennai HQ by Dec
According to market sources, Cognizant plans to wind up the process and vacate the campus by December, 2024. Cognizant has mandated international property advisory JLL to sell the property. The advisory firm, according to sources, has been talking to many prospective buyers including local developers — Baashyaam Group and Casagrand. However, nothing has been finalised yet.
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