Beyond Brick and Mortar: Growing influence of green initiatives in commercial real estate

financialexpress.com:

In recent years, India’s real estate industry has undergone a remarkable transition, with a particular emphasis on green initiatives and sustainability. The Indian real estate industry has accepted the duty to solve the urgent environmental issues facing the globe and has made great strides in implementing sustainable and eco-friendly methods. Whether it is commercial or residential developments, there is a shift in real estate development towards sustainability due to a number of factors, including increased global awareness, government initiatives, changing consumer behaviour that is more responsible, and the consequent urgency of combating climate change.

Based on a compilation of public industry reports, residential and commercial structures are responsible for a substantial portion of the global electricity usage. In addition to being one of the industries that creates the most jobs and is well-known for bolstering a nation’s social infrastructure, the real estate sector contributes significantly to global carbon emissions, according to a recent industry research. Acknowledging the obligation to reduce the carbon footprint in the future, the industry is progressively adopting sustainable practices and integrating environmentally-friendly solutions at every phase of the project life cycle. Green buildings are unquestionably in demand and gaining popularity, appealing to occupiers and developers alike as vital elements of promoting sustainability in both commercial and residential settings.

In order to promote sustainable development and green building methods in the real estate industry, the Indian government has taken the lead in developing a number of laws and incentives. These programmes have become catalysts that