The Rise of Sustainable Real Estate in India
From gushing sea levels that engulf shoreline properties to spiking heat waves that drive up steep increases in energy costs, the real estate sector faces a huge threat from intense climate change. Investors are generally aware of these physical risks, but they frequently overlook the 40% of global emissions that come from buildings' carbon emissions. Building operations attribute to 70% of these emissions while the remaining 30% accounts for the construction sector. It is the need of the hour to drastically reduce the emission rate and this transformation is only possible through a paradigm shift in the real estate sector.
To ward off the significant threats to the real estate sector, it is quite evident that sustainable real estate practices are the prime solution to this ever-impending problem.
Why Sustainability is Making All the Right Noise in Real Estate Industry
With the rise of India as an economic powerhouse, the country’s real estate sector is growing at an unprecedented rate. It is currently experiencing an unflinching demand for sustainable and green homes. Sustainability is no longer an option; it is a dire necessity.
The construction of buildings and cities that are eco-friendly, socially conscious, and economically viable is referred to as sustainable real estate development. This entails several factors, including waste management, water conservation, eco-friendly material usage, and energy-efficient design.
The popularity of eco-friendly houses has increased in India as a result of the growing environmental awareness among the country's citizens. Green building certifications and sustainable practices are becoming more prevalent in the country. Sustainable architecture has also become a mainstream area of study and practice for architects and property managers.
Let us consider one such classic and recent example. The Bangalore International Airport -Terminal 2 is making headlines for its exquisite implementation of greenhouse strategies. The green airport claims of using absolutely no light in the daytime saving 24% of electricity. In addition, 6.7 Megawatts of solar power is installed which takes care of the light needs of the terminal. Recently, the Kempegowda International Airport received the most prestigious IGBC Platinum certification from the Indian Green Building Council.
Advantages of Sustainable Real Estate
Sustainable real estate brings with it several advantages to home buyers and real estate consultants or developers. Let us check them below:
Economic Benefits
Sustainable real estate can provide financial benefits for homeowners as well as construction businesses. For example, using solar panels to heat water or generate electricity can save money on utility bills. Additionally, using materials such as recycled glass instead of concrete or steel can reduce the cost of construction. Green buildings also have a higher resale value and can boost profits for commercial real estate consultants.
Social Benefits
Green buildings are beneficial to the health and well-being of people. These buildings help reduce excessive greenhouse gases and contaminated air, conserve water and reduce wastewater, save energy, and reduce pollution. The green societies are incorporated with green pathways, parks and cycle tracks which provide natural sunlight and fresh air thereby contributing to healthy communities for home buyers.
Environmental Benefits
Green buildings use environmentally friendly materials such as rammed earth, reclaimed wood, bamboo, precast concrete slabs, and recycled plastic to name a few. They help in reducing waste and conservation of energy. Incorporating rainwater harvesting and water-saving practices help save costs considerably for landowners.
Wrapping Up
The sustainable design methodology follows a holistic approach to creating modern homes in harmony with nature while reducing the ecological footprint of a building throughout its life cycle. A more stable climate leads to less maintenance costs as well as greater energy efficiency, which means lower utility bills and reduced dependency on fossil fuels. Sustainable real estate also promises a higher return on investment when you sell your property after a few years.
Living an eco-friendly lifestyle may not be easy, but it is easier than living with the guilt of creating more waste each day. Let us all conserve today for a green future!!!
