Survey on Green Real Estate sector 2014
Mar 21, 2014
Source : The Times of India


PUNE: While construction processes are increasingly adopting environmental improvements, waste minimization practices and resource inputs, are getting less attention. One of the key objectives of the national mission on sustainable habitat, released by the Indian prime minister in 2008, was to extend the energy conservation building code to new and large buildings, to ensure energy efficiency in a significant way. There is an array of challenges and barriers ailing the green real estate sector in India, which get further amplified since its value chain presents different and conflicting views on the sector’s revival.

The objective of this study is to bridge this gap and to bring out insights that would help fuel sustainable growth in the green real estate sector. 72 per cent of respondents believe that the high costs of green real estate buildings are a major impediment to the growth of this sector. Close to 50 per cent of the same set of respondents also believe that the high cost incurred on green buildings, is just a notion and that the cost of green buildings is equivalent to that of normal buildings. This highlights a potential lack of understanding among stakeholders about benefits of green buildings.

The study further identifies key enablers that drive the sector’s growth in India today. These include enhanced brand value and reputation of the company; financial incentives from regulators; municipal bodies and a growing international trend to invest and reside in green buildings. However, the drivers work only for the energy conscious investors and constructors, thus, leaving a large part of real estate stakeholders untouched by the sustainability principles.

The recommendations highlight the pertinent need to increase stakeholder awareness about the holistic benefits of green buildings. The study recommends significant changes to overcome these barriers and highlights the urgent need for all stakeholders like real estate developers, financial institutions, real estate fund managers, green building and landscape architect companies, ESCos, construction material manufacturers and large pro-sustainability conglomerates, to come together to build and increase awareness on the tangible and intangible benefits of green buildings. It also stresses on the need to have stricter enforcement of existing regulations, along with a national level policy on all future commercial real estate projects.

‘India’s Natural Capital Leaders – A Compendium’-
Key highlights of the report:

The fast depleting stock of the natural capital globally, is making it imperative for the industry to look into ways to reduce its resource consumption to mitigate this impending risk. It is equally important for the industry to look at their resource consumption from a holistic perspective and incorporate consumption of natural resources like air, water, land, biodiversity and other dependent services, as part of their operations.

The compendium aims to facilitate this process by presenting the best practices by various corporates in India as identified in the Eco-corporate category of the Natural Capital awards. The research reveals that water is the most important aspect of natural capital from an overall industry standpoint. The latest report from the ministry of water resources suggesting that the per capita availability of water, has reduced to 1545 cubic metre as per the 2011 census, compared to 1811 cubic metre in 2001, in India. The compendium highlights case studies from industry leaders adopting a zero water discharge policy and aiming for a water positive status in their operations.

Another such case highlights utilizing the treated effluent water for providing irrigation in the surrounding area. The research also reveals that reporting environmental performance is high on the agenda of leading Indian corporates, with industry leaders adopting international benchmarks in reporting. Around 90 per cent of these companies report their carbon emissions and adopt various carbon mitigation techniques. The cases listed in the compendium span across business efficiency improvement measures, to CSR initiatives and represent the best practices adopted by the companies to conserve natural capital and support livelihood.

An important driving force behind exemplary environmental performance, is establishing an environment management policy framework endorsed by the board.

Latest Realty News

IDFC Alternatives raises $123 million in real-estate debt fund
Mar 21, 2014
MUMBAI: IDFC Alternatives Ltd, a private equity fund managed by India's IDFC , raised 7.5 billion rupees for a debt fund that will lend to developers of residential real-estate across the countr
BMC to issue certificates before razing shaky buildings
Mar 21, 2014
MUMBAI: In a bid to persuade the residents of private societies to vacate their dilapidated buildings, ward offices will issue them a certificate of occupancy before razing such structures.
Global investment in realty to grow
Mar 21, 2014
PUNE: Rapid urbanization and demographic changes, especially in the emerging markets, will lead to substantial growth in the real estate investment industry, over the next six years. At the same time as the industry’s opportunities grow, so will assets invested into the sector.
Resale property
Mar 21, 2014
MUMBAI: If one has personal cash resources at one’s disposal and is not reliant on a home loan, it is best to buy a home in a strategic, high-demand location that has no new supply of housing, feel experts. This could result in very high return on investment (ROI) because it would mean that the project would come up for redevelopment, ensuring a tidy profit to the owner. However, it is important to note that home loans on a very old property cannot be taken for granted.
Prestige Estates Projects jumps on bargain hunting
Mar 20, 2014
BANGALORE: Prestige Estates Projects jumped 4.45% to Rs 159.55 at 13:40 IST on BSE on bargain hunting after the stock declined 12.39% in the preceding seven trading sessions to Rs 152.75 on 19 March 2014, from a recent high of Rs 174.35 on 7 March 2014.
Ambiguity in Pune’s affordable housing notification
Mar 20, 2014
PUNE: The rationale behind the Maharashtra government’s notification on affordable housing, is the question that everyone, within the built environment of real estate, is asking today. There is a general feeling among the developers that the Maharashtra government’s notification for the builders, developing a housing project on a 4,000 sq m (acre) plot, to reserve 20 per cent of the area for affordable housing, is not in sync with the market’s reality. The developers call it an unnecessary burde
Affordable homes in Pune
Mar 20, 2014
PUNE: Pune is expanding its horizons on all fronts, especially in the west. One upcoming location is Ravet, which is developing as the hot-spot for residential and commercial property. Anil Pharande, chairman – Pharande Spaces, says, “Ravet is located on the north-west side of PCMC and Pune, and enjoys a combination of advantages in terms of its location.”
India office market view
Mar 20, 2014
MUMBAI: India’s economic momentum in 2013 was one of the most sluggish in over a decade. Signs of recovery, however, were visible from the second half of the year, with GDP growth touching 4.8 per cent during the July-September period, largely on account of improved performances in the agriculture, financing, insurance and business services sectors, as against a 4.4 per cent growth rate during the April-June period. Furthermore, positive export growth and reduction in imports, helped in bringing
Piramal buys 3.5% stake in Sunteck Realty for around Rs 65 cr
Mar 20, 2014
MUMBAI: Ajay Piramal-led Akshar Fincom has picked up a 3.5 per cent stake in Sunteck Realty for around Rs 65 crore, according to industry sources.
5 firms in race for Tata Steel’s Mumbai land
Mar 20, 2014
MUMBAI: Tata Steel’s 25-acre land in Borivali received five bids from Mumbai’s top corporates and developers. The deal is expected to rake in Rs 1,000 crore for the company, though the buyer will have to shell out anywhere between Rs Rs 1500-2,000 crore to acquire and develop the property.

Latest Realty News Of State

Realty Talk's