Bengaluru is currently excelling substantially in the green building sector. The IT capital of India is among the top three of 25 Indian cities having the highest number of registered green buildings. With around 333 green buildings and a total of 227.92 million sqm of green space certified by the Indian Green Building Council (IGBC), Bengaluru is India’s third most greenest city.
Chandrashekar Hariharan, IGBC Karnataka co-chair, stated that due to the geographical position of India, The National Capital Region (NCR) might be the first city in the green building ranking – taking into consideration urban sprawl and number of green projects. This is closely followed by Mumbai with 698 green buildings spread over 671.31 millions qm, Pune with 362 green buildings over 245.47 million sqm, and lastly Bengaluru.
Surprisingly, the total green footprint in India is second largest after the US, surpassing China. Over the last decade, IGBC notes a growth of 25% Compound Annual Growth Rate (CAGR) of nearly 4 billion sqft of green buildings in India.
Hariharan added that there are two measures for green buildings in Bengaluru, which are a 50% rebate in TDR cost for certified green buildings and a remission/rebate in tax for buyers of homes in residential spaces. The government is even initiating a proposal to secure remission of 1% interest for home finance for buyers of energy and water-efficient buildings.