Topics In Demand
Notification
New

No notification found.

Sustainable Practices to Advance the Housing Sector
Sustainable Practices to Advance the Housing Sector

14

0

Indian real estate sector accounts for 17% of total emissions, giving rise to the imperative need to adopt sustainable solutions that will restore the ecosystem.

Over the past few years, the world has seen rapid commercialisation. Capitalism and industrialisation have advanced the world and ensured constant progress, quite literally. But somewhere along the way, we began to cross a line that was causing irreparable damage to the ecosystem. Only recently, did the decision makers and governments realise that it is time to slowdown and reverse this damage caused if we are to leave a decent tomorrow for the coming generations.

On conducting analysis and gathering statistics, it was found that the global real estate sector generates over 40% of the carbon emissions, construction activity and building operations being the contributing factors. And the Indian real estate sector accounts for 17% of total emissions, giving rise to the imperative need to adopt sustainable solutions that will restore the ecosystem.

Efforts being made to preserve the ecosystem

Policymakers and industry experts are coming together to devise viable solutions that will drive sustainability, a key one being the adoption of sustainable building materials derived from recycled or renewable resources. Pioneering technologies and new-age design that are energy-efficient will allow us to reduce our carbon footprint while augmenting aesthetics and functionality of real estate assets.

Finally, effective waste management systems like greywater recycling, composting, recycling debris and rubble into concrete products, recycling wood into engineered wood, and segregating waste at site can be considered. Also, better initial planning to optimize resources goes a long way in reducing generation of waste. Actively embracing these solutions will lower operational costs and make the construction process a sustainable one.

There are a number of initiatives and policies put in place that are focused on making the real estate sector a more sustainable one. Some of them are:

  • Green Building Certification

 

Obtaining green building certifications like Indian Green Building Council's (IGBC) Green Building Certification or Leadership in Energy and Environmental Design (LEED) certification will ensure adherence to sustainable design principles and practices.

  • Energy-efficient Design  

 

Energy-efficient design features such as proper insulation, efficient HVAC systems, LED lighting and use of renewable energy sources like solar panels to reduce energy consumption are gaining momentum.

  • Sustainable building materials

Developers can use sustainable building materials such as fly ash bricks, bamboo, and recycled materials to reduce the environmental impact of construction.

  • Water and Waste management

The implementation of strategies like rainwater harvesting, greywater recycling, waste segregation, organic waste composting and construction waste recycling will minimize water waste and reduce landfill waste.

  • Green landscaping

Green landscaping practices such as the use of native plants, rain gardens, and green roofs can reduce the urban heat island effect and enhance biodiversity.

  • Carbon Offsetting

Energy-efficient materials, promoting public transportation options and supporting renewable energy projects will mitigate the carbon footprint.

Homebuyers keen on sustainable homes

With increased awareness, homebuyers are showcasing interest in sustainable properties as opposed to traditional constructions. Coercion from environmental activists, concern for the next generation, and introspection have caused homebuyers to re-evaluate parameters while investing in real estate. They now seek residences that are comfortable and sustainable.

Owing to this demand, developers are focused on expanding their green development projects. India's green building market reached a value of $21 billion in 2021, growing by 5.1% compared to 2020. From 2017 to 2021, the market demonstrated a historical compound annual growth rate of 7.2%.

Today, homebuyers are primarily looking at the following factors:

  • Energy efficiency

Buyers prioritize energy-efficient homes with features like superior insulation, efficient heating/cooling systems, and energy-saving appliances.

  • Renewable energy

Incorporation of renewable energy sources like solar panels or geothermal systems pique the buyer’s interest.

  • Sustainable building materials

Buyers prefer homes that utilize sustainable materials like recycled/reclaimed wood, bamboo, or natural stone.

  • Water conservation

Water-saving features like low-flow toilets/faucets, rainwater collection systems, and drought-resistant landscaping are sought after by buyers.

  • Indoor air quality

Buyers value homes with excellent indoor air quality, including high-quality air filtration systems, low-VOC paints/finishes, and natural ventilation.

Conclusion

A new sustainable era is in the process of coming to life. We are compelled to be mindful in our actions and have the common sense of knowing that we don’t own the planet; we have a responsibility to care for it so that the coming generations can enjoy its abundance. At individual, community and industry level, we must support policymakers in making and executing prudent decisions that will conserve the ecosystem.


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


images
Colliers India
Sukanya Dasgupta, Head Marketing and Communications - sukanya.dasgupta@colliers.com

Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 66 countries, our 18,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 28 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.5 billion and $98 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors, and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.

© Copyright nasscom. All Rights Reserved.