| |May 201919CIOReviewbuilding. These relatively minor changes in the design of homes and working spacescan help protect the surrounding environment. To name a few, re-use of water, low water consumption fittings, efficient space utilisation,localised power usage,window placement, skylights, balconies, with focus on thermal loss/ gain via placement and materi-als, etc. are some of the many con-servation considerations with respect to the design of a home. Addition-ally, it offers the long term effects of healthy air and water, and the com-pounding long term wealth creation of holding quality assets that create generational opportunities. Globally we are witnessing en-ergy grids being disrupted with the introduction of green energy driving localisation of power through solar and wind. As battery storage becomes cost efficient micro grids are the natural result.On the other hand, governments across the world have initiated poli-cies to address country-specific bar-riers to the propagation of green buildings. Apart from the barri-ers, the initial construction cost for green buildings is 2% - 12% higher, while the benefits are significant in terms of reduced energy and water consumption, waste generation and carbon emission, bringing down the operating expenses by 30%. These buildings also achieve rental pre-mium of 2% and are occupied by Fortune 500 tenants.Globally, green rating is emerg-ing as a popular tool to drive the construction sector to adopt sustain-able practices, often preceding regu-latory mandates, which helps de-fine standards. In India, IGBC and GRIHA are the two popular green rating systems. These rating systems have been conceived to suit the cli-matic conditions and align with national priorities.The idea of green buildings has become popular in India with the help of many initiatives taken by developers and the Government. In terms of city level distribu-tion, Mumbai has the maximum number of green buildings regis-tered, followed by Pune and Ban-galore. However, in India, green certified residential buildings ac-count for only 13.22% of the certi-fied green buildings and are yet to gain prominence.With the shift in intent from the developers, they now also focus on the green aspect of the project, un-like earlier when the focus was only the luxury fittings or the long list of amenities available. There is a change in consumer buying behav-iour and among the many questions before deciding on buying a home is whether it has energy and water con-servation fittings and fixtures.All in all, green buildings are moving towards net zero energy buildings. Although, the green building market in India is still in a nascent stage. There are reports that by 2025, green building standards are expected to be incorporated in the building codes across India and will be the new standard for the con-struction industry. The new trend in the Indian Real Estate Indus-try is to work towards smart green homes, combining technology and green construction practices. Let's hope for a more advanced and pro-gressive industry that will not only support the growth of the coun-try but also stay conscious of the environmental impact.I hope that at Assetz we will be able to deliver the first off-grid mi-cro city. Leveraging the Indian Cen-tral Government's initiatives to gen-erate low cost housing coupled with the aspiration for Make in India, the team at Assetz is working through a future vision of a modern, environ-mentally-friendly working and living environment that uses technology to reduce waste, while still remaining focused on community and the In-dian principals of family. The idea of green buildings has become popular in India with the help of many initiatives taken by developers and the GovernmentBen Salmon
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