How India’s Realty Sector Is Embracing Sustainable Practices Amid Rapid Urbanization and Growing Environmental – Times Now

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How India’s Realty Sector Is Embracing Sustainable Practices Amid Rapid Urbanization and Growing Environmental Concerns. Image Source: Canva

India’s real estate sector is undergoing a transformative shift towards sustainable practices as India experiences unprecedented urbanization and grapples with escalating environmental concerns. Recent trends indicate a surging demand for eco-friendly and sustainable living spaces in India’s burgeoning urban centers. According to real estate market analysts, the demand for green homes has witnessed a notable uptick in recent years. This shift in consumer preferences is compelling developers to incorporate sustainable features into their projects. Green-certified office space stock too have increased 36 per cent to 342 million square feet across six major cities in the last three and half years, according to a CBRE-CII report.

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Government Initiatives

Certifications such as Green Rating for Integrated Habitat Assessment (GRIHA) and Leadership in Energy and Environmental Design (LEED) incentivize developers to embrace sustainable building practices.

Growing Developers Interest

Driven by investor demand, green building construction has also grown exponentially. Certification bodies report a rise in the number of real estate projects seeking accreditation for eco-friendly construction practices. These certifications not only enhance a project’s marketability but also contribute to the overall reduction of the carbon footprint.

Catching on the rising trend of green initiatives by the citizens, Humming Group, a prominent real estate developer based in Raipur, recently organized a tree plantation drive at their flagship project, Humming Sanjeeva. The initiative aims to encourage residents and citizens of Raipur to actively participate in environmental conservation and make a positive impact on the city’s green landscape. Amid rise in green initiatives and rising interest of customers Himanshu Agarwal, Director of Humming Group, said “Our projects are designed to offer a harmonious living experience, and this includes a strong connection with nature.” From energy-efficient designs and eco-friendly construction materials to water conservation initiatives, the realty sector is redefining the landscape of urban living.

Realtors’ apex body Credai has pledged the development of 4,000 green-certified projects by 2030 amid increasing demand for green homes, government support, and a surge in eco-friendly certifications.

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