According to reports, the green building movement in India has gathered pace and has achieved a major landmark of crossing two billion sq ft of registered buildings spanning over 2,400 projects. India is next only to the US.
This is a significant development for the green building movement in the country and has caught the imagination of commercial buildings, private and public institutions, Government offices, heritage buildings and homes as the cost to go green has come down over the years, S Raghupathy, Executive Director of CII-Godrej Green Business Council, said.
The cost of setting up a green building varies depending upon its utility — whether it is a commercial office, a housing township or an individual house. What used to be about 10-15 per cent higher for commercial buildings about 10 years ago, with the payback period being 8-10 years, has now come down to barely 3-5 per cent higher with payback in less than three years, he explained.
Old and heritage buildings too have begun to attract people to opt for the rating system.
In one such innovative approach, the Tata Group headquarters Bombay House, which is a heritage building, has become the first to be certified with the Green Existing Building Rating under the Indian Green Building Council.
This shows that there are corporate entities and people, who are committed to achieving this and lead by example, he explained.
He said that it took nearly nine years for the country to have a registered base of one billion sq ft of green buildings after the first green building was constructed around 2003-04.
And in two years, this number has doubled, showing growing interest to take the movement forward across various segments.
All these registered buildings are expected to be completed within next two years, he told Business Line.
“Given the current pace, CII-GBC expects to have a green building cover of 10 billion sq ft by 2022,” he said.
The adoption of the Green building ratings started with large corporate houses such as the Godrej Group, the Tatas M&M. All the four modern airports in Bangalore and Mumbai managed by GVK and Hyderabad and New Delhi managed by GMR have been rated for their environment-friendly construction.