LTI Mindtree has relinquished a 300,000-square-foot space at Ramanujan IT City SEZ and is now looking to move into the L&T Innovation Campus at Manapakkam in Chennai. LTTS is in talks with DLF to give up the 300,000-square-foot office space.
"The technology firm is likely to delay additional space taken up in Chennai due to the adoption of a hybrid work model and also a looming global recession to cut real estate costs. LTTS is also likely to vacate DLF SEZ Chennai and will move into L&T Innovation Campus," said people aware of the transaction.
LTI Mindtree has leased 600,000 square feet at the L&T Innovation Campus in Chennai as a Phase 1 plan and will move in there by Q1 2024.
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