India witnessing rising demands for residential green buildings

Let’s comprehend the definition first; it will make the subject more decipherable. Green building, as per the definition given by experts, is an outcome of a design philosophy which focuses on increasing the efficiency of resource use — energy, water, and materials — while reducing building impacts on human health and the environment during the building’s lifecycle, through better siting, design, construction, operation, maintenance, and removal.

It has already become a bandwagon in different countries and now India is witnessing rise of the same. A number of leading real estate developers in the realm of the country are opting for green
developments and what is most striking, the greatest demand, for the moment is in the residential sector.

Who are these developers? You can find the most prominent Indian companies among them and these include Alpha G:Corp, The 3C Company, Vatika Group and Raheja Developers. Each of them is coming up with projects that are eco-friendly and help in conserving resources to the optimum degree.

In accordance with the consideration of Raminder Grover, CEO-Homebay Residential of global real estate consultancy Jones Lang LaSalle Meghraj (JLLM) there is a higher lifestyle quotient attached to green buildings as a consequence of the comfort that efficient, non-polluting waste disposal and natural ventilation offer.

Grover says, “The buyer gets assurance on construction excellence since green buildings have to meet strict guidelines on this front. This translates into longer lifespan of the building, lower repair and maintenance costs and therefore increased investment value. Thus apartments in green buildings have a greater resale value since they attract a more aware class of buyers who are willing to pay for properties that meet international standards in residential spaces.”

Elucidating the scenario Harinder Dhillon, GM, Marketing for Raheja Developers states that buyers today are a conscious lot. “Buyers today prefer buildings with less energy consumption. Since they are paying less in terms of maintenance, they don’t mind paying the extra initial cost. However, the awareness for green homes needs to be increased among the masses.”