Green building refers to the design, construction, and operation of buildings in an environmentally responsible and resource-efficient manner, with the goal of reducing their impact on human health and the environment. This includes factors such as energy efficiency, water conservation, indoor air quality, and the use of sustainable materials.
According to recent research, the last five years saw a pronounced push towards green buildings. This period also saw a 37 per cent increase in the supply of green certified buildings.As per estimates, India’s green building market will double by 2022 and reach 10 billion sq ft and will be valued at USD 35-50 billion.
As green buildings have a cost-effective elongated life, the resale value increases for both residential and commercial properties. Green buildings also fetch better in rental terms.
Buyers see ‘green value’
A strong conscientious buyer is not going unnoticed by the developer community; he/she has gone beyond the usual green initiatives and seeks aspects of design like natural ventilation instead of the manufactured cooling of air-conditioning.
The construction cost of a green building is only two per cent higher than a ‘non-green’ building. Hence, buyers need to be made aware of the advantages of green homes, especially the fact that green buildings help save energy by 40-50 per cent compared to conventional buildings in India.These could lead to lower maintainance and energy costs,which could save a fortune.
Green homes are also designed to ensure adequate ventilation/indoor-outdoor air circulation; minimal heat ingress for thermal comfort and good indoor air quality – all vital for the health of the occupants.