Did you know that the buildings and infrastructures contribute around one-third of the total CO2 emissions on Earth?
According to the United Nations Environment Program, buildings and their construction make up for 36 percent of global energy use. These buildings then account to 39 percent of greenhouse gases like carbon dioxide emissions.
The best solution great minds could come up with is the introduction of the green building concept. Read on to learn – what a green building is and how it is beneficial for you to invest in it as a developer or a homebuyer.
What Is A Green Building?
A green building is a structure that aims at using sustainable resources in its construction. It reduces adverse impacts on human health and the environment for the entire lifecycle of a building.
The lifecycle begins right from choosing the site of the building, the design, the construction and maintenance of the structure, to demolition.
In general, one can call a building green if it incorporates the following features:
- It is sustainable and minimally harms the environment.
- It uses eco-friendly materials and aims at better land-use and site planning.
- It uses renewable sources of energy like solar energy.
- It aims to preserve and efficiently use the resources like water and power.
- It applies practices like rainwater harvesting and the construction optimizes for natural light and ventilation.
- It incorporates effective waste management with practices like reuse and recycling.
In 2004, the CII-Sohrabji Godrej Green Business Centre (GBC) in Hyderabad became the first building outside of the US that to be awarded the LEED platinum rating.
About eight years later, IGBC (Indian Green Building Council), announced the construction of India’s first residential building ‘Palais Royale’ at Worli, built by Shree Ram Urban Infrastructure Limited (SRUIL).
Benefits of a Green Building for an Investor
Some experts report that in terms of green structures, India ranks second only to the United States. Our country’s current green building footprint is about 5.3 billion square feet.
The awareness about climate change, the factors that cause it and their preventive measures has increased. Here are the four major benefits of adopting the green building concept:
Saves the Natural Environment
The main reason for choosing a green building is our Mother Nature. A sustainable structure uses eco-friendly materials and efficiently manages all the natural resources throughout its life cycle.
A green building can help save 20-30% energy consumption and 30-50% water usage. These qualities help reduce the CO2 emissions, conserve water, and reduce the depletion of building resources.
Keeps You Healthy
Using ecologically sustainable materials and designing provide a better quality of the indoor environment. Real estate investors and tenants enjoy a residence that has lower greenhouse gas emissions, less water pollution, abundant natural light and air, and better health in general.
Saves You Money
A green building uses smart construction techniques that significantly save on its energy and water consumption. For example, use of high SRI (Solar Reflective and Insulating) paint on the terrace.
This paint reflects 85% of UV rays, resulting in cooler interiors and reduced electricity consumption on air conditioners. A green building enhances the influx of natural light and air ventilation, which considerably reduces power consumption. As a developer, you may find the upfront construction cost to be more, but it quickly makes up for it.
With the reduction in operation and maintenance cost year on year a building gives great ROI (Return on Investment). Reducing operation cost leads to an increase in the profit from the real estate investment.
Helps as Marketing Strategy
The green building concept is becoming a more and more popular trend. If you are a builder or a green homeowner who wants to sell or rent out, green building certifications will make it easier to market the said property.
People today are more aware of the necessity to use sustainable practices and are inclined to absorb them into their day-to-day lifestyle. We all know the benefits of reducing, reusing and recycling. Applying the same concept to housing can make a significant difference to the environment over time.
As a seller or property owner, you can add the green building certifications to the list of credentials. The benefits of going green will ultimately attract more customers and investors for the green building project.
Certifications for a Green Building
Authorities like LEED or Leadership in Energy & Environmental Design is a world-renowned entity for green building certification system and standard. Back here in India, IGBC or Indian Green Building Council takes charge, specifically for residential dwellings.
The IGBC functions on accepted energy and environmental principles. It is simple in use and best accommodates both established and emerging practices of the green initiative.
Inspection of a green building is inspected for seven major phases – siting, design, construction, operation, maintenance, renovation and deconstruction. A project wins credit scores based on its optimum use and effective management of energy, water, construction materials and natural resources.
IGBC evaluates the buildings and assigns four levels of certification.
- Certified for Best Practices
- Silver for Outstanding Performance
- Gold for National Excellence
- Platinum for Global Leadership
Importance and Scope of the Green Building Concept in India
Our growth and development as communities, countries or even as the human race causes a significant impact on the natural environment.
India is urbanizing at a tremendous pace. By 2050, the country’s urban population may reach an estimated 800 million. While urbanization is motivating significant economic development, it has also created severe shortages in energy, water, and a whole lot of pile-up of every kind of waste.
Some sources suggest that to house such a large population appropriately, the country may need to come up with about 110 million units by 2022.
Government schemes like Smart Cities Mission (SCM), Pradhan Mantri Awas Yojana (PMAY), and Atal Mission for Rejuvenation and Urban Transformation (AMRUT), have further boosted the need and demand for green buildings. Such initiatives aim to enhance the quality of human life and Mother Nature sustainably.
The traditionally constructed buildings in which we live and work consume many of our natural resources. Eco-friendly and sustainable real estate properties are not just a necessity, but also the future of real estate investment. Find your perfect dream home in a certified green building today!