New Delhi: Taking action on India''s environmental crisis is no longer an option, its a necessity, says a recent research report by Jones Lang LaSalle Meghraj.

Sustainable real estate presents India with a unique and enormous opportunity for environmental improvement, according to a recent research report titled ''Sustainable Real Estate Development in India''. Jones Lang LaSalle Meghraj has highlighted an increasing trend of sustainable development in India.

Marked by a greater consciousness towards the environmental crisis in India, terms such as sustainable development, corporate social responsibility and triple bottom reporting are more commonplace in the real estate industry. The report lists best practices and processes owners and occupiers can adopt to reduce the environmental impact of their real estate assets, while simultaneously gaining substantial ROI (Return on Investment) from their ''green'' initiatives.

Jones Lang LaSalle Meghraj is the Indian operation of Jones Lang LaSalle, a global real estate money management and services firm that is present across 10 Indian cities, with a staff strength of over 2,800 employees. The company provides investors, developers, local corporates and multinational companies a comprehensive suite of services, including research, consultancy, transactions, project and development, integrated facility management, property management, capital markets, residential, hotels and retail advisory.

The ''Sustainable Real Estate Development in India'' report points out that despite ever increasing construction activity, awareness of sustainability in India has significantly lagged western countries. Nevertheless, the growing importance of environmentalism in India has seen the Indian commercial sector begin to make conscious efforts towards creating sustainable real estate.

With government support, almost 40 construction projects currently underway are registered with the Leadership in Energy and Environmental Design (LEED), which according to a release by the company, is emerging as the preferred rating system on account of its flexibility in application across a diverse variety of markets and also because it enjoys greater recognition across various international rating systems.

This recognition is especially important when one considers that a prime motivator for developers to create a certified sustainable building is to differentiate their project from competition. The government has introduced several schemes to encourage sustainability such as the Indian Renewable Energy Development Agency (IREDA) schemes for subsidising capital for installation of solar water heaters, encouragement of energy audits and management schemes, mandatory use of fly ash-based construction material, groundwater and rain water harvesting and most importantly increased monitoring of air and water pollution.

Manisha Grover, Head Strategic Consulting & Research, Jones Lang LaSalle Meghraj and co-author of the paper said, "It is important that developers and occupiers develop an understanding and work together in successfully achieving improved sustainability performance. Occupiers can greatly assist in implementing a sustainability programme. The overall sustainable building movement has significant business implications and is an opportunity to make a real contribution in the effort to curb India''s environmental crisis."

The research paper also highlights the process of implementing sustainable development. This development can be achieved through synergy between developers and occupiers to establish goals, undertake audits and ascertain where savings and improvements can be made.

This can be achieved by focusing on high-impact, low-cost solutions that can be implemented within a realistic time frame. The importance of educating occupiers on the impact their use of space will have on sustainability outcomes is integral to the success of a sustainability programme.

To properly educate developers, their patterns of behaviour must be changed to accommodate and reinforce any sustainability features that have been implemented in a building. The main objective of any education and communications program should be to encourage developers and occupiers to follow practices such as energy and water conservation, waste management and improve indoor air quality.

"The business advantages that sustainable buildings create are enormous. Sustainable buildings use design techniques, materials and technologies that minimize a building''s impact on the environment in their design, construction and operational systems while adequately servicing and supporting activities within. Sustainable buildings provide occupiers with several operating cost reductions. Electricity is one of the largest operating expenses for commercial buildings in India. Buildings with sustainable elements can save up to 20 per cent in total electricity costs," added Grover.

In India, sustainable buildings in Tier 1 cities are at best limited to a handful of top-quality Grade-A properties. However, it is encouraging to know for owners and occupiers that the number of sustainable buildings in India are increasing and in the long term are cheaper to run and make for a better working environment.

Vincent Lottefier, chief executive officer , Jones Lang LaSalle Meghraj concluded, "The shift towards sustainability is gaining momentum in India as environmentalism and sustainable buildings are an important part of doing business in this part of the world. Sustainable real estate is not a passing trend but is a new way of doing business in real estate as sustainable buildings provide considerable financial savings. In developing, maintaining, owning and occupying sustainable buildings, individuals can help make a positive impact on the environment. Jones Lang LaSalle Meghraj as the leading property and facility manager is a strong advocate of creating a more sustainable environment for current and future generations."