June 2019

Green Buildings: Sustainable Real Estate Projects, India ranking 2nd after US

Sustainable development is a precious legacy of humankind that we must leave for our future generations. When it comes to green building development, India is one of the leading countries given the fact that sustainable real estate is still in a nascent stage in our country. In terms of green technology projects and built-up area, India ranks second after the USA. As per recent data shared by IGBC, approx. 4.7 billion sq. ft. of built up area which accounts for more than 4300 projects utilizing green technology in India, constitutes 5% of the total buildings in the country. The market for green buildings is expected to double in numbers reaching up to 10 billion sq. ft. in next few years. As per the latest report titled “Go Green” – The Mantra for Sustainable Living, in the quest for faster economic growth the price we have paid for the extensive urbanization and massive population increase is huge. Not only it has led to a significant depletion of our natural resources but these dynamics have caused changes in the quality of life.

Real estate development is one of the biggest consumers of natural resources and being the culprit, generates huge amounts of waste & pollutants. But having said that, in the long run, the real estate sector can help create a more sustainable environment and simultaneously could reduce its negative ecological footprint by adopting the green building practices. Considerably reduced pollutant emissions, optimum utilization of natural resources, reduction and recycling of wastes are some of the steps towards sustainable real estate developments.

In India, increase in awareness about green buildings and their long-term benefits will give a boost to the green building sector, which will in turn lead towards the

faster expansion of this vital market segment. Further the growth of green buildings can be accelerated through the robust financial support system, standardization of norms, better incentive schemes and most importantly, creating awareness among all stakeholders.

Some of the key benefits of adopting green building practices are:

· Protection of ecosystem

· Optimal use of water and electricity

· Better health and wellbeing of occupants

· Enhanced daylight

· Better air quality

· Enhanced productivity

Green Building practices have been rapidly adopted by some of the renowned developers in India like Advance India Projects Limited. Concern for the environment is a prime motivator towards the project developments at AIPL and we have always been at the very forefront of innovation and technology to have a lower impact on an environment. AIPL projects are being constructed as green building for which certification is done by the IGBC & GRIHA (Indian Green Building Council). As part of its construction practices, the company incorporates green initiatives in all its construction practices. Source: http://thepropertytimes.in/green-buildings-india-2nd-us-sustainable-real-estate-projects/

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