India’s green building stock increases by over 36% since 2019
CBRE.
Bangalore, Delhi-NCR and Mumbai are among the top 3 cities spearheading green-compliant office spaces with a cumulative share of 68% of the total, green-certified office stock in India.
Certified green office stock also increased substantially, growing at a CAGR of 7.1% in the last 5 years, according to CBRE.
“As the economic gains momentum and the real estate sector thrives, there is a growing emphasis on ESG and its compliance,” said Anshuman Magazine, Chairman & CEO — India, South-East Asia, Middle East & Africa, CBRE.
Global and national mandates, including the Corporate Sustainability Reporting Directive (CSRD), enhancement and standardisation of climate-related disclosures, and India’s Business Responsibility and Sustainability Reports (BRSR), push occupiers to continue leasing in green-certified office spaces.
As per the report, Bangalore tops all Indian cities with the highest green-compliant office stock, accounting for 30% of the total pan-India stock, followed by Delhi-NCR with 21% and Mumbai with 17% of the total certified office stock in India as of June 23.
Green office stock in Hyderabad accounts for 15%, Chennai 9%, and Pune 8% of the total pan-India stock.
Global and domestic occupiers are prioritizing sustainability and have committed to targets with far-reaching impact.
According to The U.S. Green Building Council (USGBC) and Green Business Certification Inc.
(GBCI), India is among the top country with LEED Zero green building projects. The findings show India as a global leader in LEED Zero certifications, outperforming both the United States and China.
India has 73 LEED Zero certified projects, comprising 45% of the more than 150 total LEED Zero certifications, with Haryana and Tamil
