Green Building Practices: A Growing Trend In Indian Real Estate

By Investoxpert | 29 Jan 2024 | Real Estate

Green Building Practices: A Growing Trend In Indian Real Estate

The real estate and construction industries in India are about to undergo a change that will go beyond simple market trends. It represents a significant and deliberate move in the direction of sustainability, highlighting the industry's dedication to complying with international laws and regulations that stress the value of environmental stewardship. The revolutionary concept of "green financing," which is transforming the face of the business, is at the center of this revolutionary adventure.

What Is Green Financing?

Green funding allocates funds to initiatives that actively address climate change while also improving the environment. We will explore the critical role that green finance plays in India's real estate and construction industry in this extensive piece, as well as how it complies with international and national rules.

Why Green Building Concept Is Trending?

Green building construction is becoming more and more important, and real estate developers are starting to include it into their designs. Developers now have an obligation to make sure that all building materials are environmentally friendly and that they utilize renewable resources as much as possible.

The world now has to be green and that also increases the land valuation . People from many walks of life have taken action to prevent the release of excessive amounts of carbon monoxide as climate change becomes more and more of a worldwide concern. The real estate sector is likewise in the midst of a shift. Developers are starting to alter construction operations more and more.

As the building industry comes to terms with the importance of social and environmental issues in determining the total worth of a property, builders are embracing modern technologies and innovating in addition to traditional methods to achieve ecological aims.

These days, green buildings—which are categorized as resource- and environmentally-efficient structures—are considered essential. By consuming less energy, water, and natural resources, these structures not only lessen but even completely eradicate their negative environmental effects. They have a beneficial effect on the ecosystem over time and the development of smart homes is also on the hike.

Environmental, Social, And Governance (ESG) Policies

Environmental, social, and governance, or ESG as it is sometimes abbreviated, has grown in importance as a global economic factor and a real estate value driver.

What Is The Importance Of Reducing The Carbon Footprint?

People are more conscious of the risks posed by climate change and are searching for solutions to lessen their carbon footprint in order to contribute to environmental protection. Increasing the energy efficiency of their house or place of business is one of the finest methods to do this.

And turning it into a green building is how to do that. Green buildings are ones that have been constructed with the highest level of energy efficiency in mind. Every little thing matters, from the development of environmentally friendly, recycled-material buildings to the several ways that developers and renters can make sure that significant action is made against climate change.

What Is The Need To Follow The IGBC Code For Buildings?

When it comes to green construction initiatives, India has become one of the leading nations. In terms of the quantity of built-up areas and green technology initiatives, India comes in only behind the United States.

Since its founding in 2001, the Indian Green Building Council (IGBC) has collaborated extensively with national and state government organizations to advance the green building movement in the nation. Through its advocacy for green buildings, advice and assistance for green building projects, and national promotion of green building, IGBC has led the green building movement in India. Policymakers must incentivize developers to construct green buildings if they want the market to keep going in this direction.

Conclusion

Widespread use of green building techniques, which emphasize their long-term benefits and favourable effects on the environment, would support economic growth and further India's goal of being a global leader in sustainable development.

In order to fully realize the benefits of sustainable construction methods, it is imperative to confront obstacles pertaining to initial cost perceptions, raise stakeholder knowledge and education, and remove regulatory and infrastructure barriers. The industry may open the door to a more lucrative and environmentally friendly future by doing this.

Together, let's create a more profitable and environmentally responsible future for India's real estate industry, where both prosperity and environmental awareness are intertwined.

Green Building Practices: A Growing Trend In Indian Real Estate