Real Estate Moves Towards Green Building Concept

As new government policies drive progress towards addressing climate change and other key environmental issues, the real estate markets around Asia and the world will change its look quickly and adopt green building concept, both in developing new buildings and improving existing ones, .

This transformation will be driven by various combinations of regulation, government incentives and changing market dynamics.

House Renter will also help drive the Green Real Estate growth through their corporate social responsibility programmes, desire to attract and retain quality employees and aspiration to improve. India currently has about twenty-six built green buildings covering close to eleven million square feet. Presently, more than two hundred buildings have registered themselves to obtain a green certificate. Mumbai is leading with fifty-one buildings, followed by Chennai at thirty-five. Bangalore has close to twelve buildings registered for certification. The green market in India started with the developed world and now it is shifting to India. The growth in green buildings is largely driven by occupiers.

Green buildings may have an initial cost of its construction as compared to conventional buildings, but in the long run these buildings could save up to 40-80% of energy cost. The energy requirements of some well designed green buildings around the world was as low as 15% than that of a conventional building.

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