The real estate sector in India is one of the largest contributors to the country's GDP, as well as the environmental footprint. With rapid urbanisation and increasing environmental concerns, it has become imperative for the sector to embrace sustainable practices. With significant portion of new construction focusing on high-rise buildings that are energy-intensive, resource-hungry and contribute to climate change, incorporating energy-efficient systems such as solar power, rainwater harvesting and smart building technologies, not only reduces carbon emissions but also lowers operating costs for developers as well as occupants. Furthermore, the Indian government has recognised the significance of sustainability in the real estate sector and has introduced regulations and initiatives to promote it. Certifications like Green Rating for Integrated Habitat Assessment (GRIHA) and Leadership in Energy and Environmental Design (LEED) encourage developers to adhere to sustainable building practices. This thought leadership report delves deep into the crucial intersection of sustainability and the real estate sector.
Investors, at the core of propelling sustainability, are increasingly seeking environmentally responsible projects that align with their ESG (Environmental, Social, and Governance) goals. Driven by investor demand, green building construction has also grown exponentially since 2010, with Bengaluru and Delhi-NCR at the forefront of this transformation. Customers, too, are becoming more conscious of their environmental impact and are willing to pay a premium for sustainable features and green certifications. It is essential for all stakeholders in the industry to prioritise sustainability and work towards creating a greener future for India's real estate sector. This report further explores, in detail, India's current green footprint, the need for sustainability for environmental, social and economic reasons, government initiatives and actionable recommendations for all stakeholders to drive this paradigm shift towards a more sustainable and resilient built environment in the country.
