Green buildings gaining popularity in Indian commercial real estate

Sustainable construction practices and green buildings are witnessing increased adoption in India's commercial real estate sector. According to a recent report by JLL India, green-certified office spaces now constitute approximately 42% of India's total Grade A office stock, up from 31% in 2022.

The trend is driven by multiple factors including growing environmental awareness, potential operational cost savings, and tenant preferences. Corporate occupiers, especially multinational companies, are increasingly demanding green-certified spaces as part of their global sustainability commitments, said Ramesh Nair, CEO, Colliers India.

Cities like Bengaluru, Hyderabad, and Pune are leading the green building movement, with developers incorporating features such as energy-efficient systems, water recycling, waste management, and renewable energy sources. The Indian Green Building Council (IGBC) has reported a 25% year-on-year increase in green building certifications for commercial properties.

The economic benefits of green buildings are becoming more evident, with studies showing they can reduce energy consumption by 20-30% and water usage by 30-50% compared to conventional buildings. This translates to significant operational cost savings over the building's lifecycle.