labels: Real estate
'Indian Green Homes market potential set at $15 billion by 2012 news
29 September 2008

In the wake of global warming and the increase in natural and man made disasters, there seems to be a growing awareness for Green Homes, to play a critical role in averting major ecological crisis.

Highlighting the enormous business potential of Green Homes, Dr Prem C Jain chairman, Indian Green Building Council (IGBC), said, "India can garner 25 per cent-30 per cent of the world wide Green Homes market, which is expected to see about $15 billion investments by 2012". 

Speaking at the recently concluded 'Green Building Congress 2008' hosted y industryu body CII, and aimed at architects and residential developers, Dr Jain said real estate offered a great opportunity for boosting Green Homes in India.

Highlighting the intangible benefits of Green Homes, Dr Kath Williams, past president, World Green Building Council, said "Green Homes contribute to the community at large. They are affordable, sustainable, maintainable and healthy homes".

"Indian ancestors paid special attention to details like adequate sunlight and solar energy while designing their homes," he said. Talking about the traditional Indian homes, Dr Williams said, India's priorities are water and waste management, energy conservation, alternative fuels and valuable resources, amongst others.

"It is important that we learn from our traditions and build homes which will conserve the natural resources," he said.

The session focused on the benefits of Green Homes, including enhanced air quality, excellent day lighting, health and wellbeing of the occupants, safety benefits and conservation of scarce national resources.

Dr Jain also released the book "Green Homes" by renowned architect R K Gautham. The book elaborates the design, construction and the use of Green Homes and involves the readers in environmental conservation.

The focal point of the event was the recently launched IGBC-Green Homes Rating Systems. Speaking in the session of "IGBC Green Homes Rating System",  S Srinivas, principal counselor, CII - Godrej GBC, said, "The real estate industry in India is one of the largest economic activities and is on a high growth path.

Almost 75  per cent - 80 per cent of the total real estate demand originates from the residential sector. According to the ministry of housing and urban poverty alleviation, there is a shortage of 24.7 million houses in the country. The housing requirement upto 2012 is estimated at $100 billion". 

He went on to stress on an imminent need to bring this sector within the fold of the Green Building Movement in India. "Green building practices adopted in residential buildings can substantially reduce or eliminate negative environmental impacts. As an added benefit, green homes reduce operating costs, enhance marketability in case of residential apartments, and reduce health problems resulting from indoor air quality problems."

The IGBC Green Homes Green Building Rating System is a voluntary, consensus-based, market-driven building rating system based on existing proven technology. The rating system evaluates using both a prescriptive and a performance based approach.

IGBC Green Homes is a measurement system designed for rating new residential buildings which include construction categories such as

  • Individual homes
  • Gated communities and
  • High rise residential apartments

It is based on accepted energy and environmental principles and strikes a balance between known established practices and emerging concepts. Different levels of green building certification are awarded based on the total credits earned. The system is designed to be comprehensive in scope, yet simple in operation.

The Green Homes Rating System addresses the most important national priorities which include handling of consumer wastes, water conservation, conservation of resources like wood and lesser dependence on usage of virgin materials. The rating system also ensures that builders adhere to local codes and regulations.
As on date, 68 projects have been registered, with over 88 million sq.ft of built-up area.

The projects are spread across various geographic and climatic regions of the country, which include Kolkata, Chandigarh, Guwahati, Goa, Mumbai, Pune Hyderabad, Chennai, Kerala, Bangalore, and Pondicherry etc.

Through the day, interesting case studies and presentations on Eco-friendly housing, Green Homes- Energy & Water, Materials & IAQ green building materials, from India and across the world, were shared.


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'Indian Green Homes market potential set at $15 billion by 2012