Vijay C Roy
Eco-friendly and sustainable is a buzzword that has gained mainstream prominence in the recent past and the real estate sector is no exception to it. With new-age buyers preferring a house that blends opulence with sustainability, developers are leaving no stone unturned to target the new potential segment, which is proving to be a win-win situation for both.
Tricity is not new to the green buildings as many of the institutional and commercial buildings such as Paryavaran Bhawan, Bharti Airtel (IT Park, Chandigarh), DLF IT Park and ISB, Mohali, fall in this category.
For example, the self-sustaining ISB campus in Mohali, spread over 70 acres is planned and constructed to meet LEED (Leadership in Energy and Environmental Design) Gold sustainability standards. Additionally, the campuses have been rated as IGBC (Indian Green Building Council) Platinum category for operations.
Now taking a cue from institutional buildings, developers, too, are focusing on residential projects which are sustainable.
Components of a
green campus
In order to qualify as a low carbon footprint building, it should have energy-efficient mechanical and electrical fixtures, low waterflow plumbing fixtures, energy efficient elevators, solar water heating, geothermal air-conditioning, basement lighting through solar PV, a building management system and extensive use of natural daylight.
Why Green Buildings?
The Tricity area comprising Chandigarh, Mohali and Panchkula has seen an increasing preference for eco-friendly and sustainable housing, as homebuyers prioritise energy-efficient designs and green spaces. For example, Wave Estate in Sector 85 and 99, spread across 245 acres, is Pre-Certified Silver Rated Green Township rating. It’s a gated community offering contemporary villas, plots, group housing, independent floors, SCO and commercial areas.
Another project — Trident Hills, a township project situated in Panchkula, exemplifies the latest trends in sustainability and green building. “This development integrates eco-friendly features such as energy-efficient architecture, rainwater harvesting systems, and the use of sustainable materials throughout its construction. Additionally, the project emphasises green spaces and landscaping, promoting biodiversity and enhancing the quality of life for residents. By adopting these practices, the project not only meets the growing demand for environmentally responsible living but also fosters a sense of community that prioritises both social well-being and environmental stewardship,” said SK Narvar, Group Chairman, Trident Realty.
On being asked why developers are now focusing on sustainability and green buildings, he added, “Primarily due to the rising demand from environmentally conscious consumers and investors. This shift is driven by the need to reduce greenhouse gas emissions and the overall environmental impact of construction, which accounts for a significant portion of global emissions. Additionally, sustainable practices lead to lower operating costs, improved occupant health, and enhanced property values, making them financially advantageous for developers while fostering a positive community image and meeting regulatory demands.”
Who is fuelling
the demand?
Consumer interest in green buildings, particularly in the residential sector, is on the rise. Homebuyers, especially millennials and Generation Z, are actively seeking properties that feature energy-efficient designs and environmental-friendly technologies.
According to recent studies, over 70 per cent of potential homebuyers indicate a preference for homes with sustainable features.
This growing awareness is reshaping market dynamics, compelling developers to integrate sustainable practices into their offerings to meet the demands of this environmentally conscious demographic.
Buyers are increasingly prioritising green buildings, especially in the residential sector. This growing interest is driven by a desire for sustainable living environments that offer health benefits, lower utility cost and a reduced environmental impact.
Eco-conscious consumers recognise the value of green features such as energy efficiency, improved air quality and water conservation.
As a result, properties with sustainable attributes are becoming more appealing and often command higher prices in the market.
“Certainly, the shift towards sustainability and green building practices is shaping the future of real estate in the Tricity. We’re seeing an increased interest from homebuyers in eco-friendly residences. At Motiaz, we’re committed to integrating sustainable elements, even in our high-end projects, where the focus has traditionally been on luxury. The early adoption of these practices allows us to create a long-term impact, setting a new benchmark in the market,” said Mukul Bansal, Managing Director, Motiaz Group.
What’s on the platter?
Insiders mentioned that since buyers expect more than just comfort; they are increasingly drawn to homes that support sustainable living, so the developers are trying to target the customers by their unique offerings.
“We are addressing this demand by incorporating green features, such as kitchen gardens and energy-efficient heat resistant windows, which align with sustainable principles while enhancing everyday life. We believe that these features represent not only an environmentally responsible choice, but also a long-term investment in quality and value,” said Prateek Mittal, Executive Director, Sushma Group.
According to Piyush Kansal, Executive Director, Royale Estate Group, “Sustainability in real estate is no longer just an option — it’s a necessity. We are dedicated to creating properties that embody our core values of innovation and social responsibility. By adopting green building practices, we respond to the increasing demand for eco-conscious living while actively contributing to the well-being of our environment and communities.”
Echoing similar sentiments, Tejpreet Singh, Managing Director, Gillco Group said, “Our focus on green building practices goes beyond mere compliance; it’s about creating vibrant, healthy spaces that enhance the quality of life for our residents and safeguard our natural resources. We believe that embracing sustainability is crucial for the future of real estate, and we are excited to play an integral role in this important movement.”
Features
- Green buildings are those which are energy and resource-efficient in their operations and structures. IGBC (Indian Green Building Council) are the standards developed for creating such environmental-friendly buildings.
- All resources involved in creating such a structure are energy efficient like building materials, water, any other resource etc.
- These buildings generate minimum non- degradable waste.
- With the use of the latest smart technology, these buildings ensure that there is minimum wastage of electricity or water.
- The smart sensors in these buildings sense the utilisation of electricity, heat or water consumption and accordingly maintains an optimal use. For example- the new-generation CFL and LED are used instead of the conventional incandescent lamps so that there is less consumption of electricity. Another example is the use of technology like air-based flushing technology in toilets.
What are Green Homes?
Indian Green Building Council (IGBC) Green Homes rating programme is designed for residential construction. These homes have their own benefits like reduced water and operating energy costs during the full life cycle of the building right from day one. These homes have 20 to 30 per cent energy savings and 30 to 50 per cent water saving advantage over regular homes. Also, these homes are known for their enhanced air quality, excellent daylight, safety benefits, conservation of natural resources and overall health benefits for residents.
- The residential buildings are eligible for IGBC ratings
- Individual homes
- High rise residential apartments
- Gated communities
- Row houses
Cost Factor
- Developing green buildings often involves higher initial costs compared to conventional construction due to the use of sustainable materials, advanced technologies, and specialized design features. While the initial costs associated with green building can be higher—typically ranging from 5 per cent to 15 per cent more than conventional construction—the long-term benefits often outweigh these upfront investments.
- Green buildings can lead to substantial savings through reduced energy consumption, lower water usage, and decreased maintenance costs. For developers, the appeal of enhanced property values and the potential for quicker sales in a competitive market further justify these investments.
- According to insiders, the long-term savings from energy-efficient buildings are becoming more apparent. This makes green development not just a responsible choice but a smart financial one.
#Gungho #Gungho #Tribune
latest news today, news today, breaking news, latest news today, english news, internet news, top news, oxbig, oxbig news, oxbig news network, oxbig news today, news by oxbig, oxbig media, oxbig network, oxbig news media
HINDI NEWS
