According to reports, green buildings make good business sense as any investment made in green buildings is paid back within 3-4 years, according to a top executive at CII-Green Business Centre.
S. Raghupathy, Executive Director, CII-Godrej GBC, said by 2030, building stock in India is expected to reach 100 billion sq.ft., up from the existing 25 billion sq.ft.
India has tremendous opportunity to go green and concerted effort by stakeholders is the need of the hour, he said.
As on date, India has over 2,085 registered green building projects amounting to over 1.43 billion sq.ft of green building area, according to a statement.
It is among the top three countries in the world fully involved in spearheading the global green building movement. Indian Green Building Council envisions to cross 5 billion sq.ft. by 2015-2016, he added.
Speaking at a meeting on Green Building Rating Systems organised by Indian Green Building Council (IGBC) of CII, he said that one of the biggest reasons why green buildings are now widely accepted by the cross section of the society is the fact that green buildings make good business sense.
The construction costs of a green building would be 5-8 per cent higher for a platinum building than a conventional building. The incremental cost gets paid back within 3-4 years with substantial reduction in operational costs, he added.