India: green building footprint to touch 2 billion sq ft by 2015

 MUMBAI: With the concept of green buildings is gaining ground among developers, the Indian Green Building Council (IGBC) expects nearly 2 billion square feet of sustained building footprint by 2015.

Currently, 1,745 eco-friendly building projects with over 1.21 billion sq ft of green footprint are registered with the IGBC.

“The green concept is becoming very popular among developers as they have realised its benefits including fast return on investments. We expect nearly 2 billion sqft of green building space under development by 2015,” IGBC Mumbai chapter vice chairman Gurmit Singh Arora said.

Developers have started realising the importance of adopting the green concept as it has emerged as a good financial business model for them, Arora said.

“Construction cost of a green building may be 3-5 percent higher than the conventional building. But the incremental cost gets paid back within two-three years with substantial reduction in operational costs. This makes good business sense,” he said.

Besides, priority is given to green building projects with regards to clearances from authorities including fire brigades and the civic body for green buildings.

He, however, said there was a need to spread awareness among people about the benefits of green buildings.

“Green buildings consume 40-50 percent less energy and 20-30 percent less water. Besides, the intangible benefits of green buildings include better indoor air quality, enhanced ventilation, better view and ample sunlight that significantly improve the productivity of the occupants,” he added.

To promote green buildings, Maharashtra has also decided to implement a ‘green code’ – guidelines for building eco-friendly structures. The state plans to implement the green code for government buildings and those of public utilities.

 

Source: The Economic Times

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