With a population of more than 1.4 billion and scarce or depleting resources, India is witnessing a visible transition in the real estate market towards eco-friendly construction technologies.
Nahar Group - Manju Yagnik, Vice Chairperson, Nahar Group & Senior Vice President NAREDCO Maharashtra
India is becoming a global economic powerhouse not just by focussing on growth but also by ensuring sustainable growth. The current government is aware of the adverse effects of global warming and has therefore set a goal to move towards zero emissions by 2070. The real estate industry has been an early adopter of sustainable development, and we at Nahar Group, have always been ahead of the curve, having adopted eco-friendly construction solutions from site selections to implementing energy efficient measures to using sustainable materials in all our projects.
Going forward, efforts must be made to incorporate more environmentally friendly building materials into the construction design instead of the conventional fly ash, red bricks, and cement. Start-ups in India have begun to produce more environmentally friendly and cost-effective bricks made from recycled plastic and agricultural waste. Such advancements will benefit the environment and the economy because over 70% of developers are unhappy with the rising material costs and their poor quality.
Waste management is a significant aspect of decarbonisation and sustainability
Waste management in real estate is a shared obligation of both the developers and the end-users at various stages of the project. The developer collaborates with local officials to install infrastructure and other amenities, while conserving water and power, and reducing the stress on the city’s infrastructure. And the end-user is responsible for maintaining the waste management infrastructure.
Energy recovery from trash involves converting non-recyclable materials using various techniques, including thermal and non-thermal. Clean and renewable energy is created in the form of electricity, heat, or fuel by combustion, pyrolysis, or gasification technologies. It has lower carbon emissions and less environmental impact than any other energy source.
A carbon credit policy specifically designed for the real estate sector can be effective
There would be many benefits of having a credit policy, for instance, there could be a set deadline for the industry to cut its emissions by a certain proportion; businesses that achieve this goal will receive carbon credits, which they can sell to other businesses or use to reduce their emissions or tax implications. This would encourage the use of sustainable materials and construction methods. Businesses that utilize recycled materials or construct buildings with efficient energy consumption could be rewarded with carbon credits.
Data about construction materials, procedures, and energy usage can be shared between stakeholders and the industry. Emissions of carbon calculators can be enhanced and made more precise using this data. There are standardized methods for calculating carbon emissions that can be agreed upon by the industry and stakeholders. As a result, comparing the emissions of various projects and monitoring development over time will become simpler. Having a centralised body to oversee the above and more, could help change perceptions about sustainability and decarbonization.
A clear shift to green construction and the benefits
Green construction methods can help conserve valuable resources like water and energy while lowering the building’s negative environmental impact. Green construction is the application of architectural principles in structures that are resource and environmentally efficient from the planning stage to design, construction, maintenance, renovation, and demolition. In contrast to conventional structures, green buildings use reusable and environmentally friendly materials to reduce resource waste and environmental carbonization.
A green building has improved indoor air quality since the walls are constructed using ecologically friendly materials, and societal benefits, such as improved health and increased productivity at work. Additionally, all the appliances and equipment used indoors are energy-efficient and are powered by solar or wind energy, lowering every occupier’s daily carbon footprint generation.
We have always been active proponents of carbon positivity. We ensure ample green surroundings in our projects, often above the recommended area. We have planted Mumbai’s largest Miyawaki forest in association with BMC (Brihan Mumbai Municipal Corporation), which has been praised by the honorable Prime Minister himself.
We have ensured flow check of water consumption, installed LED lamps in common areas, home automation, and EV charging ports in all our new projects. We are also looking at OWC (organic waste converter) for garbage disposal and STP (Sewage Treatment Plant) for wastewater management, rainwater harvesting, and solar panels in our upcoming projects.