Green Construction The Next Big Thing in India’s Real Estate
Green buildings can reduce energy consumption by 20-30%, water usage by 30-50% and reduce waste generation significantly by extensive recycling. However, a report by Anarock says that only about 5% of the buildings constructed in India (in 2017) were registered for green technology. This is highly concerning, considering a WHO survey has pointed out that 13 of the 20 most polluted cities in G-20 are in India. A green building transcribes into a healthier environment and better ecological balance. Though the initial cost of developing these buildings is higher by 10-15%, in the long run low operational costs make them a viable option. And of course, the fact is we are a nation with limited resources and an ever-increasing population! We can not solely rely on the Government to provide non-renewable resources forever.
The faster we adopt Green, the higher our chances of living a better life. And considering the impact of the real estate sector on the environment, green buildings are the best way to go green.With a billion-plus population, India is the world’s 4th largest country in terms of carbon emissions. Rapid urbanisation has led to a harsh impact on the environment. To remain energy-positive and reduce our carbon footprint, we need to focus on propagating energy efficient methods, use of renewable energy resources, preserving the bounties of nature . In real estate sector, since developing a project consumes a lot of natural resources, Green Construction can be the biggest change-maker.
This is perhaps why there is an increasing governmental push for creating Green buildings, with incentives and subsidies for sustainable buildings. Moreover, the general public is also becoming more concerned about the future of the planet and is looking for Greener alternatives in all aspects of their lives. In fact, a lot of buyers are highly concerned and specifically check for the ‘green’ certificate before making an investment. With this in mind, developers are exploring new ways to build and sell green developments and still stay profitable.
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