Tag Archives: Eco-friendly real estate

Green building often misleading in Indian context

Posted on by Track2Realty

india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, india news, property news, real estate news, India Property, Delhi NCR real estate, Mumbai Real Estate, Bangalore Real Estate, Pune Real Estate news,Track2Media, Track2Realty, ravi sinhaTrack2Realty Exclusive: The concept has been new in India and in the absence of home buyers understanding, they have often succumbed to misleading advertisements that promise “view of nature” or “open green spaces.”

However, experts caution that the only yardstick to evaluate a green structure is the reduced consumption of energy and resources without harming the environment, and one that is certified as such.

In the absence of buyer’ green awareness, many developers have charged a premium for a supposedly green project. “I was asked to pay a premium of 10 per cent extra per square foot than the prevailing rate in area at the time of booking just because the project is supposed to be green,” says a buyer, who has booked a flat in a project in Delhi-NCR. “When I asked about the project being delayed by a year, I was told that the delay is due to its being green.”

“It is a myth that green buildings are expensive. If some developer is asking for higher price on this basis then one should doubt him,” says Mala Singh, founder and CEO of PEC, a green building design consultant. “In fact, various governments are considering green norms for the schemes of affordable and low-cost housing. How can that be expensive?” adds Singh.

“In fact, due to green elements, the delay is curbed and money is saved, hence the developer should ideally give buyers a discount. But several developers take advantage of the buyer’s ignorance,” says a developer requesting anonymity.

The buyers must not be lured by advertisements which promises one or more green features, and before buying into such a project, it is wise to do some research and be armed with questions.

“A green building is one which uses less water, optimises energy efficiency, conserves natural resources, generates less waste and provides healthier spaces as compared to a conventional building,” according to the definition given by the Indian Green Building Council (IGBC).

The ratings have three tiers: Platinum (highest), Gold, Silver (lowest) and Certified (given when under construction), based on the score given for the type of technologies and materials employed to reduce resource usage.

“According to one estimate, cities in India cover only 3 to 4 per cent of the total land mass while they accommodate about 30 per cent of the population. In the next 20 years, cities will witness an additional population of about 25 crore,” says V Suresh, Chairman of the IGBC advocacy committee.

“At that time we will need at least 10 crore more dwellings. If the housing sector grows at that pace, preserving the environment and to keep the infrastructure less burdened will become a greater challenge. To make the sector environmentally sensitive and yet to plan for the huge sustainable housing stock, introduction of green concept has become a need of hour,” adds Suresh.

Next: Viability of Green Building in India


Green Building Congress from October 20-22

Posted on by Track2Realty

india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, india news, property news, real estate news, India Property, Green Building, Eco-friendly real estateThe 10th edition of Green Building Congress is being organized by the Confederation of Indian Industry (CII) from October 20-22 in New Delhi. The two-day Green Building Congress will also have an exhibition of green building products, training programmes and a national-level school competition to encourage green concepts and ideas.

The Green Building Congress will focus on architectural perspectives, experiences, global patterns, rating systems, materials and public policies. Last year, the event attracted more than 6,500 visitors, 2,000 participants and showcased more than 200 products.

Green building concepts have come to the mainstream in commercial space development, but need to be encouraged more for wider market acceptance, according to C. N. Raghavendran, Chairman, CII-IGBC Chennai chapter, and partner C. R. Narayana Rao Architects, a leading firm of architects.

Speaking to Track2Realty an official of Indian Green Building Council, which spearheads the concept of environment-friendly built-up space, that helps conservation and efficient use of natural resources, said thus far it is a voluntary effort. Still it has catalysed more than 1,270 registered green building projects, accounting for approximately 900 million square feet of built-up space.

According to the organizers a ‘carrot-and-stick’ model, with incentives and penalties, will help in greater compliance. While there need not be direct fiscal incentives or statutory rules, existing regulations could be tailored to provide benefits for builders and promoters who comply with green building norms. This could take the form of faster clearances and tax concessions.

Globally, the concept of urbanisation and built-up space, contributing to green house gas emissions and climate change, has been recognised. In India, leading developers of office space, particularly large IT companies, have recognised the need for green buildings, and have also benefitted from the cost conservation that it provides. But this has to be adopted by a wider segment of the market, the official said.