Sustainable Architecture is eco-friendly structural and landscape designs adopted as a conscious approach toward decreasing the egregious impact of construction pollution and energy exhaustion in India’s real estate sector. It has set a new dawn upon the real estate, construction business, and other ancillary industries, often drawing ire as significant contributors to greenhouse emissions and compromising the ecological balance.
According to the latest data, the construction industry is responsible for 19% of greenhouse gas emissions. Therefore, Sustainable Architecture has become a popularised modus operandi for real estate leaders who are preaching environment restoration and economic development to grow commensurate. Green Real Estate has become a new buzzword that has started to gain relevance since the pandemic. Sustainable Architecture is an uncompromising aspect of green real estate that endorses the use of eco-friendly construction materials, renewable energy, 3Rs principles, EV stations, enhancing the scope of green spaces, and the latest technological means to boost the energy efficiency of a particular project.
Conscious Adoption has been reciprocated with an upshift in favorable buying interests. Indian property buyers are also opening up to invest in green residential projects. The pandemic has led to an insurgence in demand for eco-friendly dwellings as homebuyers are willing to increase their investment stakes as long-term health concerns take primacy. Green Building Certification agencies, primarily IGBC and LEED, are also enhancing the credibility of green real estate projects which trebled up the awareness about these projects. Sentiment surveys are also projecting the general shift in the mindset of homebuyers, who now are showing a massive penchant to invest in energy-efficient projects based on an eco-friendly premise and low-maintenance modules. Homebuyers can massively save on their electricity and energy bills if they invest in green projects.
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Sustainable Architecture is a new-age tool that has shaped the comeback and post-pandemic demand revival of the Indian real estate sector. It has an influence on the nitty-gritty of building structures such as the raw material usage, design, and implementation of heating, cooling, plumbing, waste, and ventilation systems. The usage of solar power panels has become a norm in green buildings. It leads to energy cost saving by ensuring massive drops in electricity bills. Thus, it saves energy and finances.
India’s international commitment to achieve net zero emissions by 2070 will greatly depend on its well-oiled and engineered methods to adopt Sustainable Architecture. There is a widespread understanding and comprehension among the homebuying population about Sustainable Architecture and Green Real Estate which was erstwhile an arcane and newfangled concept to most. Developers associations like CREDAI are also promoting the development of these projects. It has announced that it will construct more than 1,000 certified green projects in the next two years and 4,000 projects by 2030 in India approved by IGBC, which will add 4 lakh green housing units in the country.
Sustainable Architecture is heralding the growth of green realty, leading to modern and much-needed changes in construction principles, raw materials, and building plans and layouts, wearing out the old order or scheme of things prevalent in the real estate sector.
(By Neeraj K Mishra, Executive Director, Ganga Realty)