The Future of Green Buildings in Mumbai

image credit :- https://www.commonfloor.com/hiranandani-regent-hill-mumbai/povp-skni85

Mumbai, the financial capital of India, is known for its fast-paced development and rapid urbanization. However, this growth has come at a cost – increased pollution, overcrowding, and depletion of natural resources. As the city continues to expand, the need for sustainable development has become more pressing than ever before. This is where green buildings come into the picture.

Green buildings are those that are designed to be environmentally responsible and resource-efficient throughout their lifecycle. They aim to minimize their impact on the environment while maximizing their benefits for occupants. The concept of green buildings has gained immense popularity in recent years, and Mumbai is no exception.

The real estate sector is one of the largest contributors to greenhouse gas emissions. According to a report by the United Nations Environment Programme (UNEP), the construction industry is responsible for 39% of global carbon emissions. This has led to an increasing focus on sustainability in the real estate sector, and green buildings have emerged as a viable solution.

Green buildings not only help reduce the carbon footprint of the building but also offer a range of benefits to the occupants. They are designed to provide better indoor air quality, improve occupant health and well-being, and reduce energy and water consumption. These benefits have made green buildings an attractive option for developers and investors in Mumbai.

Mumbai has seen a steady rise in the number of green buildings in recent years. According to the Indian Green Building Council (IGBC), there are currently over 600 registered green buildings in India, of which Mumbai accounts for a significant percentage. This trend is expected to continue as the demand for sustainable development grows.

One of the most significant drivers of green building adoption in Mumbai is the increasing awareness among developers and investors about the benefits of sustainability. According to a survey by JLL India, 67% of developers in India consider sustainability to be a critical factor in their decision-making process. This has led to an increasing number of developers incorporating green building features into their projects.

The government has also played a significant role in promoting green buildings in Mumbai. The Maharashtra State Government has made it mandatory for all new government buildings to be constructed as green buildings. The Brihanmumbai Municipal Corporation (BMC) has also introduced a policy to encourage the construction of green buildings by offering additional floor space index (FSI) to developers who incorporate green building features into their projects.

While the adoption of green buildings in Mumbai has been growing steadily, there is still a long way to go. According to a report by the Centre for Science and Environment (CSE), green buildings account for only 5% of the total built-up area in India. This highlights the need for more significant efforts to promote sustainable development in the city.

In conclusion, the future of green buildings in Mumbai looks bright. The growing awareness about sustainability, the government’s initiatives, and the increasing demand for green buildings from occupants are all driving the adoption of green buildings in the city. As we move towards a more sustainable future, green buildings will continue to play a crucial role in reducing our impact on the environment while improving the quality of life for occupants.

Palladian Partners Advisory LLP
Palladian Partners is one of the fastest-growing real estate advisory firms, delivering consistent unparalleled property advice to investors and developers for assured success!

Links

Contact Us

PALLADIAN PARTNERS ADVISORY LLP

Corp. Office:
B-1206, One BKC, G Block, Plot No. C-66, Bandra Kurla Complex, Bandra(East), Mumbai - 400051, Maharashtra.
Tel.: +91 22 4299 9999 | www.palladian.in

Palladian©2021 | All Rights Reserved | Privacy Policy
Disclaimer MahaRERA Reg No. A51800026648 | Available at https://maharera.maahaonline.gov.in/