Shifting Tides in Indian Realty: The impact of financiers favoring sustainable property development

financialexpress.com:

As the world grapples with rising temperatures, extreme weather events, and the urgent need to reduce carbon emissions, real estate has emerged as a critical player in the fight against climate change. Currently, a mere 10% of India’s total buildings are certified green. In a scenario where the real estate and construction sector accounts for 36% of the world’s total energy consumption and is responsible for nearly 40% of greenhouse gas emissions, this is a wake-up call to an industry that is a vital part of the solution.

In contrast to typical Indian buildings, those certified by the Indian Green Building Council (IGBC) lead to water and energy savings of approximately 20-30% and 40-50%, respectively. As every drop of water and every unit of energy saved is a step closer to a sustainable future, green buildings stand as a ray of hope in the battle against climate change.

Sustainable development in the real estate sector covers a range of practices aimed at reducing the environmental impact of construction and operation. This includes energy-efficient building designs, the use of renewable materials, and the adoption of green technologies for heating, cooling, and waste management.

Measures and initiatives like sewage treatment plants, rainwater harvesting, high-reflective index, solar photovoltaic technology, double glazing units and regenerative elevators with ReGen are critical in building a sustainable project. These parameters collectively signify a transformative journey in real estate development in India, benefiting both the environment and society at large.

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The shift towards sustainable real estate development in India is being driven