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India and the global green building movement

Aparna Dutt Sharma, Chief Executive Officer, IBEF

Feb 17, 2014 11:01

India is amongst the top five countries in the world leading the global green building movement with over 2,380 registered green building projects. The coverage of green building technology has moved up to 1.82 billion sq feet in 2013 from 20,000 sq feet in 2003 and is expected to further increase to 5 billion sq feet by 2017. With the building stock in India reaching 100 billion sq feet by 2030 from the existing 25 billion, the number of green building projects is expected to increase substantially in coming years.

Whilst the construction cost of a green building is typically 3-5 per cent higher compared to a conventional building, the incremental costs are recovered within 3-4 years resulting in substantial reduction in operational costs. The rising awareness and consciousness towards green buildings has resulted in creating new green employment opportunities. Consistent efforts from the government and industry over the past decade have resulted in placing India in a lead position in the global green building movement. Going forward, the country can be expected to further consolidate its position in the field.