CREDAI Maharashtra & SuperHumanRace Sign MoU to Track Real Estate Emissions

CREDAI Maharashtra has signed a memorandum of understanding with SuperHumanRace, a leading technology firm, to develop and implement Regional Emissions Inventories for Maharashtra’s real estate sector. The initiative aims to help developers adopt sustainable practices while enhancing market credibility and competitiveness. Key attendees included Pramod Khairnar, President of CREDAI Maharashtra, Aalok A. Deshmukh, Managing Director of SuperHumanRace, Ayashkanta Rout, Sustainability Lead at Oberoi Realty, and Gagandeep Bhullar, CEO of SuperHumanRace.

Pramod Khairnar highlighted the importance of environmentally sustainable and economically viable development, stating that Maharashtra's real estate sector is pivotal to India’s urban transformation.

In 2024, Indian real estate witnessed record investments of USD 8.9 billion. However, according to the World Bank, India requires USD 50 billion in private financing annually until 2036 to meet its urban infrastructure needs. With aspirations to become the world’s third-largest economy by 2027 and reach USD 7 trillion GDP by 2030, India’s urban growth must address significant climate challenges.

By 2030, cities will contribute 70% of India’s GDP, house 40% of its population, and account for over 30% of national emissions. As the country rapidly expands its urban infrastructure—adding floor space equivalent to Paris every week—building low-carbon, climate-resilient infrastructure is critical. Khairnar emphasized the need for sectoral benchmarks to meet India’s Paris Agreement commitments and attract global investment.