According to Xynteo’s Build Ahead, a business-led initiative focused on scaling decarbonising efforts in India, consumers are willing to pay 5-10% premium for green-certified homes.
Mahindra Group recently partnered with Johnson Controls for a net zero energy buildings initiative to decarbonise India’s commercial, urban residential and public buildings.
The Confederation of Real Estate Developers’ Associations of India said it will certify 100,000 homes and 25 million sq ft of commercial real estate with green building certifications every year.
Morphogenesis has designed a new office campus for IT firm Infosys in Nagpur, featuring a net zero energy-enabled design by integrating passive design strategies, advanced technology, solar panels, energy-efficient elements and insulation materials.
“Today consumers care about access to greenery, clean air, reliable materials and operational savings, which green buildings can offer. This is the perfect time for real estate and construction companies to offer green alternatives,” said Vipul Kumar, senior partner, Xynteo.Real estate is one of the largest contributors to total global emissions generated by manufacturing (steel and cement) and the rest is contributed by the energy used to power the buildings.Xynteo’s ‘Build Ahead’ study surveyed about 1,100 residents across Ahmedabad, Bhubaneswar, Delhi, Noida, Gurgaon, Hyderabad and Mumbai. It found that Mumbai residents are 70% more likely to select such homes than people in other cities.
However, despite good sustainability engagement, 88% of the respondents have no knowledge about green buildings.
All the cities surveyed suffer from high levels of poor air quality, with more than 300 Air Quality Index reading, which explains the desire for greener homes with better indoor air quality and access to greenery.