India's green homes market potential pegged at $ 15 billion

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Staff Reporter | 29 Sep, 2008
The focus of the third and last day of 'Green Building Congress 2008' was on Green Homes. The Conference on Green Homes was designed exclusively for home makers, architects and residential developers.

"Real Estate offers a great opportunity for Green Homes in India, since ours is a growing economy", said, Dr. Prem C Jain, Chairman, Indian Green Building Council (IGBC). Highlighting the enormous business potential of Green Homes, Dr Prem C Jain said, "India can garner 25-30% of the world wide Green Homes market, which is expected to see about 15 bn US $ investments by 2012".

Highlighting the intangible benefits of Green Homes, Dr. Kath Williams, Past President, World Green Building Council, said, "Green Homes contribute to the community at large. They are affordable, sustainable, maintainable and healthy homes". Talking about the traditional Indian homes, Dr. Kath Williams said, "Indian ancestors paid special attention to details like adequate sunlight and solar energy while designing their homes. India's priorities are water and waste management, energy conservation, alternative fuels and valuable resources, amongst others. It is important that we learn from our traditions and build homes which will conserve the natural resources".

In the wake of global warming and the increase in natural and man made disasters, the panelists underlined the need and importance to propagate Green Homes which will play a critical role towards averting major ecological crisis.

The session focused on the benefits of Green Homes, including enhanced air quality, excellent day lighting, health & wellbeing of the occupants, safety benefits and conservation of scarce national resources

The session also witnessed the launch of the book "Green Homes", by Dr. Prem C Jain, Chairman, Indian Green Building Council (IGBC). Authored by renowned architect Mr. R.K. Gautham, the book elaborates upon the Design, construction and the use of Green Homes and involves the readers in environmental conservation.

The focal point of the second session was the recently launched IGBC-Green Homes Rating Systems. Speaking in the session of "IGBC Green Homes Rating System", Mr. S Srinivas, Principal Counselor, CII – Godrej GBC, said, "The real estate industry in India is one of the largest economic activities and is on a high growth path. 75-80% of the total real estate demand originates from the residential sector. According to the ministry of housing and urban poverty alleviation, there is a shortage of 24.7 million houses in the country. The housing requirement upto 2012 is estimated at 100 bn US$".

He went on to stress on an imminent need to bring this sector within the fold of the Green Building Movement in India. "Green building practices adopted in residential buildings can substantially reduce or eliminate negative environmental impacts. As an added benefit, green homes reduce operating costs, enhance marketability in case of residential apartments, and reduce health problems resulting from indoor air quality problems."