Cognizant Sells Prime Chennai Campus for ₹612 Crore, Bagamane Plans Redevelopment

Cognizant Technology Solutions has sold its 13.68-acre campus in Okkiyam Thoraipakkam, Chennai, to the Bengaluru-based company Bagamane Constructions for ₹612 crore. Cognizant plans to consolidate operations within its MEPZ, Sholinganallur and Siruseri offices, the move being in line with this strategy.

Cognizant vacated its Thoraipakkam campus, which was its first fully owned facility in Chennai and its India headquarters for the past two decades, in December 2024 ahead of selling the property. The deal was registered at the Neelankarai sub registrar’s office, with ₹55.08 crores paid in stamp duty and registration fees to the government of Tamil Nadu.

The property, listed for sale for the first time in August 2023, was marketed with the assistance of JLL, a global leader in real estate services. Local developers like Baashyaam Group and Casagrand expressed interest, but Bagamane Constructions bagged the deal.

The IT major has been methodically cutting its realty footprint in Chennai, handing back rented spaces at several locations in Chennai including Ramanujan IT Park, DLF and St. Mary’s Road in R.A. Puram. It now runs its India headquarters from the campus of MEPZ on GST Road near Tambaram.

Bagamane Constructions, which has developed several IT parks in Bengaluru, is likely to build a high-end mixed-use development on the Thoraipakkam land, keeping with OMR’s changing skyline.

Key Highlights:

🔹 Cognizant divests 13.68-acre Thoraipakkam asset for ₹612 crore

🔹 Sale recorded at Neelankarai, stamp duty of ₹55.08 crore paid

🔹 The site has an estimated built-up of 4 lakh sq. ft. space.

🔹 Cognizant consolidating operations in MEPZ, Sholinganallur, and Siruseri.

🔹 Bagamane to develop high-rise mixed-use.