Green building footprint to increase to 2 bn sq ft by 2015
Green building concept gaining popularity and has become one of the major styles of construction. Various developers have opted this form of construction in their upcoming projects considering their investors’ needs. The Indian Green Building Council (IGBC) expect building footprint of about 2 billion square feet by 2015. Presently, there are about 1,745 eco-friendly building projects with over 1.21 billion sq ft being registered with the IGBC.
Since the green concept is becoming popular, developers have realised its benefits and fast return on investments. This concept has emerged as a good financial business model for most of the developers. However, the construction costs of a green building are a little costlier than the conventional building by about 3-5%. The incremental cost is paid back within two-three years through substantial reduction of operational costs, which makes a good business.
Green buildings are given priority regarding clearances given by the authorities including the fire brigades and the civic bodies. Most of the environmentalists feel that the home buyers should be made aware about the benefits of living in a green building.
Benefits of a green building:
Green buildings consume 40-50% of lesser energy and 20-30 % less water when compared to the conventional buildings. Green building generates less waste and provides healthier spaces for occupants. Green home or green building not only brings down your utility bills but also increases home value. Low operating costs of green buildings are raising property values in the current economic market. Resale values of green buildings are usually greater than those that are conventionally built.
Other benefits include:
- Enhanced air quality
- Excellent day lighting
- Health & well-being of the occupants
- Conservation of scarce national resources
- Enhance marketability for the project
In order to promote green buildings, Maharashtra has decided to implement a ‘green code’ which consists of guidelines for building eco-friendly structures.
