The world is moving towards a sustainable future ever since the global pandemic has disrupted everything to its core. This major shift in the development is driving the rising preferences of green buildings among both developers and occupiers in India. The demand for green-certified office space has increased in the country as everyone has now understood the need of adopting practices that support long-term sustainability.
With this ongoing awareness of the dangers of climatic change, people are looking for new ways to reduce the carbon emission to help and protect the environment by doing their bit. And constructing green buildings is the most efficient way to do so.
On that note, let’s briefly discuss the concept of ‘Green Buildings’.
What are green buildings, why do they matter?
Buildings which are resource-efficient and environmentally responsible are usually classified as the green buildings. They not only reduce the harmful impacts on the environment, by using less water, energy and other natural resources but also maintain a sustainable atmosphere for the long run.
The demand for green buildings in India has significantly increased in the last few years. Today, homebuyers, especially the millennials, are looking for investing in such projects for the obvious benefits that they possess. Apartments that are offering proper ventilation, access to fresh water and ample sunlight are gaining traction among the buyers. Besides this, people are also increasingly getting aware of the materials that are being used in the construction of a building and the impact they have on our natural environment.
Tenants embracing green buildings
It’s not just the developers who are embracing the sustainability, one should always remember that real estate is driven by tenants as well. Almost every corporate company is now expecting a better indoor environment and lower operating costs to enhance their market value. This is the reason why more and more real estate developers are stepping to meet the rising demands of sustainable buildings. With the initiative of green leases and environment-friendly facilities management, the builders are proving a new way to the prospective tenants to make a positive impact on the environment, without undermining the viability of their businesses.
Future lies in sustainable architecture
In the post-covid era, India has emerged as one of the leading countries in terms of green building projects. This happened because the Indian government has played a pivotal role in promoting the sustainable buildings which creates a positive impact on the climate.
Apart from the authorities, top developers are also aligning their businesses across asset types and are taking concrete steps towards carbon neutrality while making sure that most of their rental portfolio is green building certified. Builders across the country are coming forward to take the responsibility of building with the best- recycled materials and eco-friendly products.
Above all, the most important thing is that, whether it is the national authorities or real estate intermediaries, everyone is working together to make a difference in the field of green architecture. Given the advantages green-certified projects are offering such as the incentives providing by the government to such constructions and the growing numbers of environment-conscious consumers, the future for Green Real Estate seems very bright.