A major IT company has put up its prime property, which has served as its India headquarters for more than two decades, in Chennai for sale. The property, comprising a 15-acre land parcel and four lakh sq ft of office space on Chennai's IT Corridor, could fetch at least ?750–800 crore, according to industry estimates.
An international property advisory firm has been mandated to handle the sale and has been engaging with several prospective buyers, including local developers, though nothing has been finalised yet. The company plans to complete the process and vacate the campus by December 2024, after which its new India headquarters will operate from another campus in Chennai.
The sale is part of the company’s strategy to consolidate operations across three of its own buildings, while gradually giving up leased office spaces across Chennai, including prominent IT parks and commercial addresses.
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