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Buyers And Office Occupiers Are In Favour Of Green Buildings

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Buyers And Office Occupiers Are In Favour Of Green Buildings

As people have realised the hazardous effects of climate change, buyers are opting for green buildings and builders are equally committed to build such structures

All the natural resources have been polluted, thanks to the reckless use of resources by mankind. We are already suffering from the harsh effects of global warming and climate change. However it seems that people are slowly realising the dangerous outcome of harming the nature and the growing demand for green homes is proof of the increasing awareness among people. Homebuyers as well as office occupiers are inclined towards structures that are environment friendly. The last one year saw an increasing demand for green homes from buyers. According to an industry study, about 10 percent of home buyers verify if the structures are environment friendly and also demand a certification which proves the same.

The green buildings market of India is expected to double and may reach around 10 billion sq. ft. by 2022, worth $35 billion-$50 billion. The US ranks first and India ranks second in the number of green projects and built-up area. A building can be termed as green building if the processes and materials used for the construction, design, maintenance, renovation, and deconstruction are eco-friendly. Green structures help to save 40-50 percent of the energy and 20-30 percent of water as against conventional buildings.

Green homes operate on the basis of effective use of environmental resources such as power, water and pollution free garbage. These homes make use of power generated through wind or solar energy. Rainwater harvesting and recharging are adopted to make optimum use of water resources. Pollution free garbage is the use of garbage for composting, power generation or for active carbon generation.

India is witnessing urbanisation at a rapid pace and the country has to tackle the challenge of developing infrastructure at an equal pace without compromising on the protection of environment. IFC, a member of the World Bank Group, developed EDGE. This is a tool that helps developers to identify the most cost effective ways to reduce energy use, water use and embodied energy in materials. The effective use of this tool can reduce the resource consumption of buildings and the embodied energy of construction.

In metropolitan cities like Mumbai, the civic administration offers incentives and rebates to drive the construction of such green projects. Sustainable Housing Leadership Consortium (SHLC) is a unique consortium convened by the IFC, which is the very first private sector-led initiative across the globe working towards mainstreaming green homes in India. This consortium was formed in 2016 with the support of the European Union under the Eco-cities program.

The Ministry of Housing and Urban Affairs, Government of India actively participates in the SHLC. The consortium is aiming to achieve a 110 million sq. ft. of green housing by 2020 with the government’s support. India can benefit immensely as it will lead to an estimated saving of 198 million kWh per year and 108 billion litres in water savings. The energy saved can be used to supply power to over 1 lakh additional households.

The initial expenses of constructing a green home are marginally high but in the long run it saves a lot of money as the ongoing maintenance charges like water and electrical charges are drastically reduced. By opting for an environment-friendly structure, the future generations will not be deprived of their right to enjoy the nature’s resources.

 

Source: ET Realty

ALSO READ: Four Percent Of Buildings In India Qualify As Green Buildings

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