Akshardham is believed to be the divine abode of Bhagwan Swaminarayan. The followers of Bhagwan Swaminarayan believed that the soul (jiva) goes here 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 SwaminarayanHindu philosophy.