India: Is Green Building Beneficial in terms of Money?

The cost of constructing a ‘Green Building’ might be higher compared to traditional buildings, but it is profitable in terms of money. This view was expressed by speakers at the seminar ‘Green Promise to My City’ organised by Gujarat Institute of Housing and Estate Developers (Gihed) and India Green Building Council (IGBC) as part of the property show on Saturday.

Experts believed that there is a need to take care of the environment collectively and individually. They also said that one should develop ‘nature’, create a ‘culture’ and look within for sustainable development.

The sea-level has increased by two-and-a-half feet in the last 100 years and many islands are vanishing from the global map due to environmental changes. “The construction industry is responsible for such a negative impact on environment as it consumes 12% water, 30% electricity, generate 33% green house gases and 25% wastage,” said Samir Sinha, chairman of IGBC (Gujarat chapter).

He also said that by adopting the green building concept, developers can save 40% water, 40% electricity, 35% green house gasses and 35% wastage. Sinha said that green building is not beneficial only from environment point of view but also from profit point of view. “The cost of platinum rated green building used to be 18% more than the traditional buildings in 2003, which reduced to 8% in 2008-09. This will be only 1-2% in 2014-15. Green building’s payback period is only four to five years and one can charge higher in selling or leasing the units making it more profitable,” added Sinha.

Gihed president Rushabh Patel raised certain issues like production of material used in green buildings might consume more energy but said that one should make it their ‘nature’ to care for the environment.

Meanwhile, another speaker at the seminar, member secretary of Gujarat Pollution Control Board (GPCB) Hardik Shah asked developers to implement the projects. “In a seminar on green buildings in Surat, 22 developers took an oath for setting up at least one green building per year but only three have initiated the work,” said Shah.

Source: DnaIndia

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