Cognizant's Chennai Campus Up for Sale as IT Company Plans New Headquarters (Image Source: iStockphoto)
IT major Cognizant is set to sell its long-standing headquarters in Chennai’s IT Corridor, a landmark site that has been central to its operations. The property, located in Okkiyam Thoraipakkam, encompasses a 15-acre land parcel and 400,000 square feet of office space. According to The Times of India report, the real estate estimates suggest that the sale could generate between Rs 750 crore and Rs 800 crore for the company.
Significant Milestones
The Chennai campus, which served as the operational base for Cognizant co-founders Lakshmi Narayanan and Chandrasekaran, holds historical significance for the company. Notably, it was the venue where Cognizant remotely rang the Nasdaq opening bell, marking a major milestone in its growth. This site represents the company’s first fully owned property in Chennai, contrasting with its earlier rented space in the CSI building near the US Consulate.
Plans for Relocation
Cognizant has outlined plans to complete the sale and vacate the Chennai headquarters by December 2024. International property advisory firm JLL has been appointed to manage the sale. Discussions are ongoing with potential buyers, including local developers such as Baashyaam Group and Casagrand, though no final agreements have been reached yet.
New Headquarters on the Horizon
Following the sale, Cognizant’s new India headquarters is expected to operate from the MEPZ campus near Tambaram on GST Road. This move is part of a broader strategy to consolidate operations into three company-owned buildings located at MEPZ, Sholinganallur, and Siruseri.
The report added that the company is also reducing its leased office spaces in prominent Chennai locations, including Ramanujan IT Park, DLF, and St Mary’s Road offices in R A Puram.
