Sustainable Practices Revolutionizing India's Real Estate Market
The Indian real estate market is adopting sustainable practices to enhance market value and investor appeal, contributing to a greener future.
Sustainable PracticesReal EstateIndiaGreen BuildingsEsg CriteriaReal Estate NewsJul 06, 2024
To stay ahead of the curve, real estate players are adopting sustainable practices to support the development of green buildings and sustainable urban planning in India. These practices not only enhance market value and investor appeal but also contribute to a greener future.
One of the key sustainable practices is green certification, which has become a benchmark of sustainability. Properties with certifications such as LEED, GRIHA, and WELL promise reduced operational costs and optimal living environments. According to a joint report by KPMG and Colliers, green buildings can lower emissions by 35% and maintenance costs by 20%.
Eco-friendly building materials and green spaces are also gaining popularity. Using non-toxic, recycled, or sustainably sourced materials resonates well with environmentally aware consumers. Integrating biophilic designs, which involve creating strong connections between nature and built environments, is particularly apt in urban areas where green space is often limited.
Energy efficiency and renewable energy integration are key differentiators in a property's market valuation. Smart HVAC systems, cellulose insulation, and energy-efficient lighting are foundational to reducing carbon footprints and operational costs. The International Finance Corporation's (IFC) EDGE system provides a measurable plan of action for energy and water saving in buildings aimed at achieving global sustainability standards.
Water conservation systems are critical in a country like India where water scarcity is a significant issue. Rainwater harvesting systems, water-efficient fixtures, and innovative wastewater treatment facilities that recycle water for landscaping and other non-potable uses are highly appealing to environmentally conscious buyers.
Finally, AI-based smart home technologies that allow residents to manage their energy and water usage efficiently are adding a layer of convenience and further boosting the sustainability of residential realty. Smart thermostats, automated lighting systems, energy auditing devices, and water leak detection systems are popular advancements that tech-savvy consumers prefer to minimize their environmental impact while enjoying modern comforts.
By adopting these sustainable practices, the Indian real estate sector can position itself as a future-ready global leader in sustainability, contributing to economic stability, environmental responsibility, and social well-being.
Frequently Asked Questions
What is the significance of ESG criteria in real estate investment decisions?
ESG criteria have become critical factors in investment decisions, reflecting a shift towards more ethical and environmentally conscious investing.
How do green certifications impact the market value of a property?
Properties with green certifications such as LEED, GRIHA, and WELL promise reduced operational costs and optimal living environments, enhancing their market value.
What are the benefits of eco-friendly building materials and green spaces?
Eco-friendly building materials and green spaces contribute to healthier indoor air quality, reduced environmental impact, and improved market appeal.
How can water conservation systems benefit residential properties?
Water conservation systems such as rainwater harvesting systems and water-efficient fixtures are highly appealing to environmentally conscious buyers, adding value to residential properties.
What role can AI-based smart home technologies play in sustainable real estate?
AI-based smart home technologies can help residents manage their energy and water usage efficiently, adding a layer of convenience and further boosting the sustainability of residential realty.
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