Green Buildings – The Future for Indian Real Estate Sector

Green buildings - The future for Indian Real Estate sector
Green buildings - The future for Indian Real Estate sector

India is one of the most populated countries of the world. Improved lifestyle of the people of this country is marked by increase in number of air-conditioned houses, and 24-hr water supplied apartments etc. All these parameters of comfortable living have laid undue stress on the natural resources and that is why; water and power scarcity are some of the issues faced by an average common Indian man. Green buildings are seen as a futuristic solution for meeting the sheltering demands of a billion of people living in this country. Though the present Government is pledged to provide houses to all by 2022, how they are going to deal with the stress on the environment due to this ambitious project is yet to be understood.

As they say, ’charity begins at home’, it is essential for every house owner in being instrumental in the conservation of natural resources and set example for sustainability in the long run. The environmentalists’ advice is giving food for thought to the builders for developing sustainable living spaces and so one can find the concept of green buildings in India selling like hot cakes.

What defines green buildings in India?

Developers who are the flag-bearers of sustainable Indian Real Estate have conceptualized the buildings that are ‘green’. To understand what green buildings in India are, let’s understand the concept of sustainability first. Any construction that utilizes minimal supply of water, electricity etc., recycles the resources and limits the generation of waste can be categorized as green buildings in India. Such buildings make the best use of all the elements of Mother Nature and score high on energy efficiency, material and resource optimization, and promotion of sustainable land. Those buildings that are built on nature promoting models and not at the cost of nature are truly green. Chennai is one of the cities in India that has been successful in implementing sustainable building plans and is setting benchmark for other Indian cities.

The main characteristics of the green buildings in Indian Real Estate are:

  1. Less consumption of water and electricity
  2. Use of techniques like electricity generation with solar panels, rain-water harvesting.
  3. Use of energy-efficient thermostats that reduce employing of power-sucking appliances like air-conditioner etc.
  4. Buildings with water treatment plants that recycle the waste water
  5. Use of natural building material instead of synthetic ones
  6. Buildings that promote community living where a single resource caters to more number of people at a time, thus, enabling reduction in resource consumption and better utilization.

How Green Buildings are securing the future of Indian Real Estate

The green buildings in India are getting nod from all walks of society because of the string of benefits attached to them. The biggest challenge faced by the Indian Real Estate sector is high cost of construction. Adopting sustainable models of construction does not involve guidelines on wise use of resources only; its effects are far-fetching. The optimal use of land, development of multi-use buildings and better utilization of building material are some of the factors that are translating into better margins.

Makers are further benefitted by the subsidies and incentives that the Government is showering on sustainable project initiators. The project developers are able to promote and market the buildings better, and consequently, benefit due to increase in demand.

Since the focus is on making the internal environment of the building comfortable without the use of artificial methods, the inhabitant also is relieved off the burden of energy bills. Since the internal air quality and other characteristics are good, the houses support better physical and mental health. Allergy-proof homes, and the homes maintained at normal temperature range are definitely a wise choice for the owner of the house too.

Green buildings - The future for Indian Real Estate sector
Green buildings – The future for Indian Real Estate sector

Green Building concept – the present statistics

Green Building Council of India (GBCI) was formed in 2001 with an aim of finding ways to make the constructions sustainable. The building with about 1850 sq.m. of area developed on green concept marked the start of revolution.

Till now, 140mn sq.ft. of construction space that equals about 2100 buildings has won the approval of GBIC. Better quality of life guaranteed by the green construction is the reason behind the continuous rise in demand of environment-friendly housing projects.

At present, the sustainable housing industry is estimated to be of USD 30- 40 billion. Given the fact that about three-fourth of the residential and commercial spaces are still under construction, these projects will also be making use of greener solutions for completing the remaining part. Thus, the total area covered under sustainable construction plan is going to increase considerably in coming times.

How green buildings in India are going to change Indian Real Estate

Adopting greener models of architecture is more like going back to the roots. Indian civilization has always acknowledged the power of nature and used it to the benefit of the masses. More and more projects of Indian real estate being based on the green concepts is testimony to the fact that modernization or urbanization can become sustainable only if the wise and conservative models of energy utilization are employed in developing residential and commercial spaces.

There will be better quality of life and the health of buildings will also experience appreciable improvement. Experts are already studying the architecture of historical monuments like Taj Mahal and others to find how these buildings stood the tests of times, and similar building plans are in pipeline.

To conclude, green buildings are surely the future of Indian Real Estate. These are opening avenues for newer talented breed of architects, environmentalists and material suppliers who put their brains in bringing forth the models that give equal importance to both the modernization and conservation of resources. Buyers are also displaying positive sentiments towards the sustainable and eco-friendly building plans and are giving full support to the initiators by showing interest in e-homes and other time-tested construction models. With such increase in awareness and consequently, in demand of the sustainable buildings, calling greener buildings in India the future face of Indian Real Estate is certainly not an overstatement.