Real Estate Moves Towards Green Building Concept

As new government policies drive progress towards addressing climate change and other key environmental issues, the real estate markets around Asia and the world will change its look quickly and adopt green building concept, both in developing new buildings and improving existing ones, .

This transformation will be driven by various combinations of regulation, government incentives and changing market dynamics.

House Renter will also help drive the Green Real Estate growth through their corporate social responsibility programmes, desire to attract and retain quality employees and aspiration to improve. India currently has about twenty-six built green buildings covering close to eleven million square feet. Presently, more than two hundred buildings have registered themselves to obtain a green certificate. Mumbai is leading with fifty-one buildings, followed by Chennai at thirty-five. Bangalore has close to twelve buildings registered for certification. The green market in India started with the developed world and now it is shifting to India. The growth in green buildings is largely driven by occupiers.

Green buildings may have an initial cost of its construction as compared to conventional buildings, but in the long run these buildings could save up to 40-80% of energy cost. The energy requirements of some well designed green buildings around the world was as low as 15% than that of a conventional building.

2 Comments

  1. Posted June 13, 2008 at 6:45 am | Permalink

    Recently I came across an article which mentioned that eco-friendly buildings are becoming the new fashion of the Indian real estate sector. This silent revolution in India is being led by the IT industry. Due to the exponential growth of the IT sector and IT enabled services; there is huge demand for ultra modern, sophisticated and eco-friendly office spaces through out the country.Being finally bored of the sick building syndrome “a combination of ailments associated with place of work or residence”, many Indian developers have started looking ways to go green with buildings designs- be in commercial or residential sector. Given the astronomical rise in fuel prices in the past few years, it’s no surprise that energy efficiency is the top reason consumers choose green building these days.A green building can be termed so only if it meets certain strict parameters set by international leaders in the field like Leadership in Energy and Environment Design (LEED). According to their criteria – a green building must perform well in the field of sustainable site development, water savings, energy efficiency, material selection and indoor environment quality.The green building movement has its roots in the environmental and architectural design arenas. For more view- realtydigest.blogspot.com

  2. Posted June 17, 2008 at 3:05 am | Permalink

    Forget conventional. The future of residential home building is about to undergo some major changes as the project known as The Pasadena Eco House nears ground breaking.

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