The Indian commercial real estate industry is witnessing a changing trend with the rise of green buildings. These eco-friendly structures prioritise resource efficiency and minimising carbon footprint, making them attractive for businesses and the environment alike.
Traditionally, real estate has been focused on functionality. Today, leading developers are adopting sustainable practices and integrating cutting-edge technology like smart building systems and environmentally friendly building materials. This shift toward green buildings not only benefits the planet, but it also creates a healthier work environment for employees.
Imagine working in an office with features like energy-efficient lighting that uses 30% less power, recycled materials that reduce reliance on virgin resources, and water-saving fixtures that cut water consumption in half. Green buildings often incorporate renewable energy sources like solar panels to further reduce their environmental impact. The result is less energy consumption, cleaner air, and potentially up to 15% lower operating costs for your business.
This isn't just a feel-good initiative: studies show that green buildings command up to 8% higher rents and enjoy higher occupancy rates, and tenants are increasingly looking for sustainable workspaces that align with their environmental values.
The benefits go beyond individual buildings: According to the International Energy Agency, the construction industry accounts for 36% of global energy use and about 40% of greenhouse gas emissions. Green buildings offer key solutions and contribute to a more sustainable future.
India is at the forefront of this green revolution. According to a recent report by Colliers, green penetration in India's commercial real estate sector will reach 61% by the end of 2023, meaning that more than half of all new commercial developments will prioritize sustainability. Experts predict that by 2026, green-certified Grade A office space will account for more than 65% of India's total office stock of 550 million square feet.
This shift reflects greater collaboration among stakeholders. Tenants, investors, developers, and even governments are recognizing the value of sustainable practices. Certification programs such as LEED and GRIHA assess the environmental impact of a building throughout its lifecycle to ensure responsible construction and operation.
The future of commercial real estate in India is undoubtedly green. By adopting eco-friendly practices, developers are constructing buildings that are not only good for their business but also for the planet. This collaborative effort, spearheaded by eco-conscious occupiers and backed by government initiatives, is positioning India as a leader in sustainable commercial development.