SUSTAINABLE BUILDINGS-INDIAN REAL ESTATE’S FUTURE

Being a developing country, India is facing continuous and fast-paced development of the real estate sector. Projects are being undertaken vigorously, both residential and commercial, by builders and investors. There is a surge of high-rise buildings and urbanisation and research and development is in full swing to come up with better buildings to be able to stand out from the rest of them. Commercialisation is affecting our environment at an alarming rate. Construction of buildings has increased emissions of carbon, consumption of energy, air, and noise pollution etc. Due to this, the living condition is becoming unfavourable day by day for the occupants of these buildings as well as for the people living around this area. In order to combat this concern, sustainable buildings are fast gaining popularity. These are smart buildings that are constructed and maintained in a way that is environment-friendly.

Sustainable buildings are advantageous in numerous ways for the buyers as well as the investors. Let’s discuss them.

SAFE ENVIRONMENT
Smart buildings ensure fresh air inside the buildings as well as in the surroundings. The indoor environment includes keeping a check on dampness, dust, chemicals, and other emissions. Outdoors include planting more trees for fresh air and reduced noise pollution levels.

HEALTH & WELLNESS
It has been surveyed that residents of sustainable buildings have fewer respiratory problems. Green buildings are increasing in demand because they provide a healthy environment.

PROMISING INVESTMENT
The certification of sustainable buildings costs 2% to 5% of the total cost of the building. Therefore, the builder can charge a premium for sustainable buildings. Green buildings have a higher resale value as well, which makes them a profitable investment for the buyers.

LOWER OVERHEADS
In the long run, the operational cost of such buildings is lower than that of other buildings. For example, lower electricity bills due to its source from renewable sources of energy, such as, solar energy; lower water bills due to efficient management of water, etc.

GOVERNMENT INCENTIVES
The government is promoting sustainable development by providing certain relaxations to those who are building sustainable buildings.