Cognizant Nears Sale of Thoraipakkam Campus in Chennai
Cognizant Technology Solutions is close to finalizing the sale of its Thoraipakkam campus in Chennai, valued at approximately ₹1,000 crore. This comes as part of the company`s asset monetization strategy across India.
A public notice was recently published on behalf of a prospective buyer, believed to be a Bengaluru-based real estate developer. The 13.39-acre property, featuring a 5.60 lakh sq ft building on OMR, is seen as a prime location for commercial and residential development.
This marks the second major property sale in Chennai within six months, following Standard Chartered’s Haddows Road property, which also carried a similar valuation.
Cognizant has been downsizing its office space, reducing over 2 million sq ft in 2024 alone. The IT giant now owns or leases 8 million sq ft in Chennai, down from 9 million in 2023, as it restructures its workspace strategy.
