Offices in India set to go green in a big way says JLL’s Rajat Malhotra

Keeping in mind the fact that affordable housing is poised on the verge of quantum growth in the next two decades and that 60% of India’s infrastructure is yet to be put in place, it stands to reason that commercial and residential developers are increasingly being encouraged to incorporate green features in their projects.

Green buildings or environmentally sustainable real estate is a necessity in the Indian context today. Huge demands have been placed on infrastructure, energy, drinkable water and disposal management systems which leave Indian realty with no other option but to go green.

However, contrary to popular perception, India is not a reluctant signee to the green buildings movement. The numbers, as per the Indian Green Building Council, stack up impressively with Indian real estate going from just 20,000 square feet of green projects in 2003 to more than three billion square feet of green developments. Of this, green office spaces notch up an impressive tally of 200 million square feet.

“Contrary to common belief, Indian developers are not ‘going green’ merely because more and more MNCs will now consider moving only into certified green office spaces in India”, says Rajat Malhotra, COO of Integrated Facilities Management (West Asia), JLL India. “The demand for green office spaces is equally high among Indian corporates; some of the top Indian MNCs have now included green office spaces in their corporate sustainability objectives”.

According to Malhotra, there are tangible advantages to green buildings that go beyond objectives related to carbon footprints and Corporate Social Responsibility. Yes, there is a rental premium associated with green construction but it also results in big savings.

“A typical 100,000 square foot green office building saves the occupier Rs. 30 to 40 lakh in a year on energy alone”, explains Malhotra. “Savings in water could be close to half this amount. In comparison to conventional office spaces, green offices are 20-30% more efficient on the use of water and energy”.

SOURCE: THE REALTY PAPER