Akshardham is believed to be the divine abode of Swaminarayan. The followers of Swaminarayan believed that the jiva or soul goes to Akshardham after salvation to attain moksha.
It is made from the words Akshar meaning indestructible and Dham meaning abode or home. Hence, Akshardham is the immortal abode of God or the abode of Lord Swaminarayan. This is a common term used in the Swaminarayan Hindu philosophy.