Charting India’s sustainable housing growth roadmap

financialexpress.com:

India strives to balance its substantial housing shortfall amid rapid urbanization with sustainable development. While real estate exhibits vigorous promise, experts emphasize tailored planning across affordable green projects, infrastructure upgrades, and ownership boosts.

With extensive construction activity, the realty sector significantly contributes to emissions through materials and operations. Thus, green building certification warrants prioritization to mainstream sustainability. Moreover, supporting infrastructure – from water to transport facilities – deserves attention given its multiplied socioeconomic perks.

Gurmit Singh Arora, National President, Indian Plumbing Association, says, “Despite bullish realty prospects, governments also need to play a pivotal role by integrating affordability and long-term sustainability.”

With estimates stating India requires 25 million additional homes by 2030, ‘proactive steps’ become vital. These span tweaked affordable housing definitions for wider eligibility, improved developer incentives via financing/ tax breaks/ R&D aid to make projects sustainable. Concurrently, reining in repo rates and boosting public infrastructure are crucial.

Most imperatively, buildings cause 40% of emissions globally – with materials and operations each contributing heavily. Hence, “mandatory green certification is integral for carbon-neutral Indian realty,” Arora says.

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Policy efforts like industry status for realty, R&D subsidies and tax incentives can ignite responsible growth. By spurring construction, such solutions generate employment while attracting ancillary sectors. Concurrently,