Sustainable living: The green revolution taking over real estate in 2024
In India’s real estate market, sustainability is much more than a passing fad—it is a major driver of the country’s GDP. The industry faces significant obstacles, the most important of which is the impending threat posed by climate change. However, these challenges present India with an incredible opportunity to develop sustainable methods that reduce carbon footprints and maximize the country’s enormous potential for renewable energy. According to McKinsey, the building and maintenance of the built environment is responsible for about 26% of total greenhouse gas emissions and 37% of emissions associated with combustion. Thus, sustainability is becoming a more integral part of the designs produced by Indian real estate companies. This includes large gardens, designs that make the most of natural light, efficient waste disposal systems, water-saving techniques, and carbon-reduction strategies. Such efforts are a result of both the recognition that sustainability offers long-term financial success and environmental imperatives.
The Indian real estate market has recently undergone a significant transformation. Ecological management and sustainability are now squarely in the spotlight. As a result, green real estate has become increasingly well-known due to its eco-friendly design and energy efficiency. Furthermore, the market indicates a rising need for real estate with both observable environmental benefits and significant financial returns. According to IBEF, By 2030, the Indian real estate sector is predicted to be worth $1 trillion, accounting for 13% of the nation’s GDP by 2025.
Here’s a look at how the green revolution is taking over the real estate-
Nurturing the Environment
Selecting environmentally friendly properties reduces carbon emissions, which is the primary objective of green homes. This includes developers making investments in carbon-neutral renewable energy sources like wind and solar electricity. It is essential that sustainability standards are respected at every level of the process, from design to construction and operation. These homes are committed to reducing greenhouse gas emissions, thereby reducing the effects of climate change. This includes selecting sustainable raw materials, making sure they are obtained locally, and designing homes that make use of energy-efficient equipment and fixtures. Thus, by implementing water management systems like rainwater collection, sewage treatment plans, low-flow fixtures, etc., these initiatives also aim to reduce the amount of water consumed.
Considering the Welfare of the Residents