The Indian real estate and infrastructure industry stands at Rs 6 billion, and is constantly expanding. Even with a lowdown and change of policies, it has picked up at a really fast pace. However, the changes that are constantly happening around us, especially pollution, call for strict construction measures in order to prevent damaging the environment further.
Green real estate, as it is popularly known, is the concept that is slowly gaining traction. A method that involves environment-friendly construction practices, it keeps a check on the social aspects while making the construction process efficient.
Green real estate is defined by three sub-categories: environmental responsiveness, resource efficiency, and community and cultural sensitivity.
Environmental Responsiveness – focusses on minimizing the damage to the environment
Resource Efficiency – Using resources wisely and in the least possible amount to help conserve them
Cultural Sensitivity – Building practices according to different socially acceptable norms
The overall idea behind the concept is the sustainability in the real estate sector. Started in the 1970s, the concept has numerous benefits that go a long way in safeguarding the environment. Here are a few of them:
- Helps curb pollution
The biggest problem in the 21st century is air pollution. Green building practices directly impact the pollution levels. Also, it helps improve the quality of indoor air, making it healthier for the residents.
- A hope for the future generations
Deteriorating environment with increasing pollution levels has made it difficult to cope up for many. With the widespread use of green real estate, the next generations will be able to live in an atmosphere that will be clean.
- A money saver in the long run
While major infrastructure companies have started incorporating green methods in their construction practices, small ones complain of them being expensive. What they need to understand is the fact that the amount of damage being done to the environment will lead to huge losses in the years to come. It is essential to take steps today to have a better and brighter tomorrow.
- Builds trust
- A buyer focuses on numerous aspects before purchasing a house. The biggest factor that defines the choice is the trust on the builder. Green building has a positive psychological impact leading to increased confidence in the builder, and thus, more sales.
- Low maintenance and operation cost
- The usage of resources is efficient in green real estate. For instance, usage of daylight in green building helps residents save huge amounts on their electricity bills. The operating and maintenance cost is directly impacted and thus, reduces the rent that one has to pay while living there.
While the market is moving towards sustainability in real estate, the process is a slow one. Looking at the weightage of benefits it has, the industry is likely to witness an increased number of builders and developers opt for green building practices and bring about a holistic change in near future.