Green living and spacious homes continue to dominate homebuyer’s preferences

financialexpress.com:

The Indian real estate sector is experiencing a remarkable surge in green building and sustainability initiatives, encompassing every corner of the nation, particularly among luxury homebuyers. With a focus on reducing greenhouse gas emissions, improving energy efficiency, and adopting renewable energy sources, the country is actively working towards a greener and more sustainable future. The new generation of discerning homebuyers encompasses HNIs, NRIs, millennials, young professionals, and retired professionals who prioritize spacious green living spaces that are highly sustainable and well-equipped with modern amenities and safety features.

According to a report by the Indian Green Building Council (IGBC), the green building industry is projected to double by 2025, reaching a market size of USD 50+ billion by 2025. The NCR region, in particular, is experiencing a notable uptick in preference for eco-friendly residences, driven by a growing focus on sustainability and environmental awareness. This surge in demand for green homes has catalyzed heightened research and development efforts in renewable energy technologies and sustainable construction materials. The green home initiative extends beyond environmental benefits, offering long-term economic advantages for homeowners. Furthermore, this initiative has the potential to significantly stimulate the Indian economy in the next five years.

The rise of green buildings in India is primarily driven by growing environmental awareness among homebuyers. As per the McKinsey report, building construction and maintenance contribute significantly to greenhouse gas emissions, accounting for roughly 26% of the total 37% of those related to combustion. Thus, sustainability is now