Why Property Developers Are Moving Towards Green?

Amid all the “go-green” campaigns, propagating the promotion of eco friendly activities, property developers are also no way lagging behind anymore. Now it is not just about saving water, pitching afforestation schemes or even conserving electricity. It is about building homes and estates in a way so as to incorporate the whole of it within the particular threshold of nature conservation. Property developers are eventually shifting towards constructing more of these eco-friendly buildings, with the sole vision of constructing man-made homes without depleting our natural home! Developing quality environment friendly housing or estate that meets the highest standards of performance and sustainability are their shared goal now.

Who is a responsible developer?

A responsible developer is the one who keeps in mind the following factors while constructing eco-friendly estates.

  • Develops a proper water management infrastructure
  • Utilizes smaller spaces to employ materials more effectively
  • Conserves and restores biodiversity and local ecosystems
  • Utilizes materials which are resource-efficient with low environmental impact
  • Designs water-efficient landscapes and homes
  • Provides a comfortable and safe indoor environment
  • Returns, recycles and reuses job- site waste

What is Green Technology?

The green building initiative has been triggered due to worries related to energy uses and carbon emissions from buildings. Hence, the majority of property developers are implementing Green technologies. These include recycling, water purification, sewage treatment, environmental remediation, solid waste management, renewable energy and so on. These could be kept in mind when constructing buildings to achieve the goal of reducing adverse impacts on the natural environment.  The Leadership in Energy and Environmental Design (LEED) certification is an internationally recognized standard used to measure a building’s carbon footprint. It is also an accepted and acknowledged practice in India. IIT Chennai introduced a design manual for Glass Fibre Reinforced Gypsum (GFRG) panels, published by the Building Materials and Technology Promotion Council (BMTPC). Manufactured in 12M X 3M size, it is said to be the world’s largest load-bearing building panels and one such wall panel can replace one truckload of conventional bricks! GypWall is another high-end product of green building technology. It not only facilitates affordable and flexible construction but also is environmentally responsible.

Australia has adopted green technologies to build commercial workspaces, so as to boost up their business ratings. For eg. City of Sydney, in cooperation with its partners such as AMP Capital Investors, DEXUS Property Group, Lend Lease, Mirvac, University of Sydney and University of Technology Sydney, has proposed a series of programs including: the Smart Green Business Program, Sydney Better Buildings Partnership, CitySwitch Green Office Program as well as the Environmental Upgrade Finance Scheme to help businesses become more sustainable.

Benefits

The uprise of green office spaces would automatically result in a demanding hike, which in turn will increase the rent consequently. The rising rent would lead to a higher asset price, and would, therefore, contribute to several such new constructions. Finally, the new constructions would generate a higher level of office space stock. Also, once green technologies become more popular, their prices would fall. This would reduce the expense of allotting a fixed amount of new space and increase the profitability of construction companies for given asset prices. So, it is beneficial as well as ideal for today’s real estate developer.

Green building exterior-renovation

Natural resources are conserved which help in depletion of the natural surroundings. Having a substantial amount of greenery around also benefits personal health standards. Not just that! A developer who constructs an eco-friendly building gains lump sum economic benefits such as tax and rebate incentives, enhanced asset value and lower operating costs. Construction waste is recycled, rather than being dumped in a landfill, creating further pollution. Also, infrastructural materials are recycled content, such as clay hollow bricks, clay roof tiles and clay facades. This poses no threat to the environment while the construction is in progress. This is also cost effective for the builders, as well as serve as durable and functional infrastructure. With perks such as these, the selling price becomes higher in no time.

The Ministry of Energy, Green Technology and Water (KeTTHA), in alliance with GreenTech Malaysia, pitched idea Putrajaya & Cyberjaya, the green pilot project that could be a leading model for the rest of the eco-friendly developments in Malaysia. The prior objective is to build a Green Township in Malaysia.

Government Grants

To make any noble idea beneficial to the people, government intervention is extremely important. Nowadays, the government in association with other organizations who have an interest in propagating sustainable developments, offers grants and assistance, whenever needed, to aid businesses or individuals. The green building concept has gained prominence in India with a large number of government initiatives, primarily by the Indian Green Building Council (IGBC). It is a division of the Confederation of Indian Industry (CII), which strives to impart knowledge by offering advice to the industry on environmental practices and need for green buildings, energy efficiency, water management, renewable energy, green business incubation and climate change activities.

Sustainable incentives are increasing day by day. It can be very well said that a good, sustainable design or property could bring in  long-term profitability due to the significant reduction of operating cost over a longer period of time. It is the first-hand choice of property developers, hence.

Authored by a Building Expert from Wienerberger India

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