Building the Future: Steering Indian real estate towards sustainable development

financialexpress.com:

The Indian real estate sector, a cornerstone of the nation’s economy, is undergoing a monumental shift. As urbanization accelerates, with projections indicating that 40% of India’s population will live in urban areas by 2030, the demand for both residential and commercial spaces is skyrocketing. This growth, while promising, brings with it the pressing need to balance economic advancement with environmental sustainability and social responsibility—a challenge not unique to India but faced globally as nations strive to create future-proof, equitable development models.

The transition towards sustainable infrastructure is at the heart of India’s real estate transformation. This involves a paradigm shift from traditional construction techniques to approaches that embrace green materials, energy-efficient designs, and eco-friendly practices. As the market is expected to grow to a $1 trillion industry by 2030, the potential for promoting sustainable practices is immense.

Projects like Mahindra World City in Chennai and Godrej Garden City in Ahmedabad are leading the way, showcasing how integrating features like rainwater harvesting and solar power can reduce environmental impact while improving quality of life. However, the challenge extends beyond individual projects to encompass broader issues such as water scarcity, air pollution, and waste management. The Indian Green Building Council (IGBC) is playing a vital role in promoting sustainable practices across the lifecycle of construction projects, setting a new standard for the industry.

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Innovation and technology are key drivers in the evolution of India’s real estate sector. The adoption