IT giant Cognizant Technology Solutions is set to sell its 20-year-old Chennai headquarters, a historic landmark in its growth journey. Located in Okkiyam Thoraipakkam along the city’s IT Corridor, the property spans 15 acres and includes 400,000 square feet of office space. The sale is expected to generate between ₹750 crore and ₹800 crore, according to a report by The Times of India.

A Landmark Property with Historic Significance

The Chennai campus has been a cornerstone of Cognizant’s operations, serving as the city’s first wholly owned property. It holds sentimental value as the site where Cognizant co-founders Lakshmi Narayanan and Chandrasekaran operated and where the company remotely rang the Nasdaq opening bell, marking a milestone in its global growth.

Before moving to this campus, Cognizant operated out of a rented space in the CSI building near the US Consulate in Chennai.

Transition and Relocation Plans

Cognizant plans to finalize the sale and vacate the property by December 2024. The sale process is managed by international property advisory firm JLL, with potential buyers including local developers such as Baashyaam Group and Casagrand. However, negotiations are ongoing, and agreements still need to be finalized.

Following the sale, Cognizant’s new India headquarters will be based at the MEPZ campus near Tambaram on GST Road as part of a broader plan to consolidate operations. The company will focus its Chennai presence on three owned buildings in MEPZ, Sholinganallur, and Siruseri while scaling back leased office spaces in locations like Ramanujan IT Park, DLF, and St Mary’s Road in R A Puram.

Streamlining Amid Broader Challenges

The sale is part of Cognizant’s efforts to optimize its real estate portfolio and streamline operations. However, the company has recently faced scrutiny for reportedly offering annual salary increments as low as 1% to some employees and rolling out its lowest pay packages in a decade to new hires. These salary increases were also delayed by four months, raising concerns among the workforce.

Reshaping Chennai’s IT Landscape

Cognizant’s decision to sell its Chennai headquarters reflects broader shifts in the IT industry, where companies increasingly optimise resources to balance costs and operations. The move marks the end of an era for Cognizant’s Chennai campus and signals significant changes in the city’s commercial real estate and IT ecosystem.

As Cognizant transitions to its new headquarters and continues consolidating its operations, the sale of its iconic campus is set to leave a lasting impact on the city’s tech landscape and the company’s evolution in India.