Indian green building initiatives
By UK India Business Council (UKIBC)
India is seeing a dramatic rise in green building initiatives. Currently, green building accounts for approximately 5% (£9.64 billion) of the total £193 billion construction market, and this is expected to grow to 8% (£25 billion) by 2015
According to the India Green Building Council (IGBC) – a leading accreditation organisation, which administers the Leadership in Energy and Environmental Design India (LEED India) certification under license agreement from the US Green Building Council – India has 450 million square feet of green homes, with 1.2 billion square feet of green buildings ready or pre-certified.
Government Initiatives
There is a growing focus on reducing carbon emissions through sustainable buildings. The 2008 National Action Plan for Climate Change includes the National Commission on Enhanced Energy Efficiency which includes the promotion of energy efficiency in building. Whilst the sector is not underpinned by regulation, the government has announced a number of initiatives such as the Green Rating for Integrated Habitat Assessment (GRIHA) introduced by the Ministry of New and Renewable Energy.
In Pune, the Pimpri-Chinchwad Municipal Corporation (PCMC) is the first municipal corporation to introduce energy efficient buildings by giving incentives to builders and property tax concessions to residents.
The Financial Benefits
Although some developers are deterred by the higher cost of constructing green buildings – estimates range from 5 to 30% higher, the long-term cost benefits are clear. According to the IGBC the immediate and most tangible benefits are in the reduction in water costs (2-30%) and operating energy costs (30-50%).
In addition to using less water and energy, green buildings provide healthier spaces for occupants and increase property values. It is no surprise, therefore, that they are shooting up around the country and across all real estate sectors, from residential houses, commercial units, industrial facilities, hospitals, campuses, hotels, etc.
Residential. According to the IGBC Green Homes launch, a rating system for the residential sector launched three years ago, Mumbai and Chennai are leading the way. As architects, builders and owners are becoming more aware of the benefits of green constructions, there will be an increased effort to follow through with plans to allow owners to save money in the long run while becoming passionate about the idea of helping the environment.
Factories. The concept of green buildings has also taken off in the commercial sector. Many companies are now investing in green buildings, such as Larsen & Toubro’s new switchgear manufacturing facility in Vadodara which is applying for a ‘Green Factory’ certification through the IGBC. This ensures that all material used in the construction are both eco-friendly and green-certified, which allows for rain water harvesting and utilising sunlight so they do not need to use electric lighting during the day.
Business Parks. Gurgaon’s business park growth in recent years has affected the city’s environment, and recently companies within the realty sector have been giving more importance on how to alleviate environmental concerns.
Hospitals. Opportunities for green buildings are seen in the healthcare industry as well – an impressive success story is Mumbai’s Kohinoor Hospital. The hospital is Asia’s only LEED-certified, Platinum-rated green hospital. By saving on electricity and water costs, patients benefit from lower bills.
New Urban Developments. As new cities are developed, green initiatives will play a key part in the planning and building of these cities. The Delhi Mumbai Industrial Corridor DMIC for example will see several “smart” and “sustainable” cities.
Conclusion
UK companies that focus on green buildings and green building products should look at the opportunity in India as right now the total built-up space is 25 billion square feet and this is expected to increase to 80 billion by 2030. IGBC estimates that the green building opportunity will be worth £64.3 billion by 2015. Recognising the huge potential the market offers, Ecobuild will hold its first exhibition in Mumbai in April 2013. According to IGBC the market for compliant building materials and products could reach £6.4 billion by 2015.
References
http://www.thehindu.com/life-and-style/homes-and-gardens/article3558592.ece
http://articles.economictimes.indiatimes.com/2012-06-15/news/32254603_1_green-buildings-gurgaon-realty-conventional-buildings
http://www.livemint.com/2012/05/24214239/Hotels-in-India-going-green.html
