India surges ahead in green building footprint

    India Green Building
    Commanding a whopping space worth over 3.59 billion sq ft, covering 3600 projects built under the country's green building footprint, India has emerged as the second largest player in the segment in the world. If it keeps the momentum of the past three years, the coverage can go up to 10 billion sq ft by 2022, said executive director of Indian Green Building Council (IGBC), S Raghupathy, adding that the reason behind green building movement shaping up well in India is that they make good business sense. Commercial and big residential green buildings cost between 2-3% more than the conventional ones. But the incremental cost can be paid back in about three years from the savings made out of energy and water. Industry estimates that the energy savings from a typical green building is about 30-40% with the awareness level increasing about the multifarious benefits of such projects, the demand is on upswing. Developers are also warming up to the concept because green homes attract more buyers than the conventional buildings. As currently, the awareness level among architects, developers, corporate and individual buyers in big cities is about 70-72%. As a result of which the adoption rate has also improved but what is heartening is that the residential green buildings are dominating, and commanding a share of about 60%, he added.
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