A guide to green homes

From Ti­marpur to CR Park, we take a look at some pre­dom­i­nantly Ben­gali neigh­bour­hoods in the city To iden­tify a gen­uine green project you must en­sure it has an ac­cred­i­ta­tion from a rat­ing sys­tem

HT Estates - - HTESTATES - San­thosh Kumar Harini Sri­ram Juggy Mar­waha

There is in­creased buoy­ancy in the mar­ket after the ar­rival of the new gov­ern­ment. This is es­pe­cially after the bud­get set the ball rolling for the real es­tate sec­tor. With al­lo­ca­tion of more funds for af­ford­able hous­ing, eas­ing of FDI norms, im­ple­men­ta­tion of REITs and the spe­cial fo­cus on in­fra­struc­ture de­vel­op­ment, the gov­ern­ment has made it clear that in or­der to push eco­nomic growth, a spe­cial fo­cus on in­fra­struc­ture and real es­tate de­vel­op­ment is piv­otal. In the fore­see­able fu­ture, the real es­tate mar­ket in Delhi NCR is go­ing to see con­sid­er­able for­ward mo­men­tum.

As land is a pre­req­ui­site for any kind of de­vel­op­ment, Noida and Gur­gaon are the log­i­cal an­swers to the bur­geon­ing need for hous­ing in Delhi NCR. In terms of inventory, Noida and Gur­gaon have more op­tions than any other city in the NCR. Th­ese two ar­eas are con­se­quently ex­pand­ing and grow­ing, and need­less to say, ex­pan­sion opens op­por­tu­ni­ties for fur­ther growth in real es­tate. It is for this rea­son that th­ese two ci­ties have now got ma­ture real es­tate mar­kets for dif­fer­ent sets of buy­ers and in­vestors.

How­ever, th­ese two re­gions are markedly dif­fer­ent in terms of the po­ten­tial for re­turns. In the last few years, com­pared to Noida, in­vest­ments in Gur­gaon have yielded bet­ter re­turns. How­ever, Noida is not lag­ging very far ei­ther. Var­i­ous re­cent an­nounce­ments and the in­fra­struc­ture up­lifts of the city have made Noida’s real es­tate mar­ket in­creas­ingly at­trac­tive.

The l ower pric­ing f ac­tor is the big­gest draw for most in­vestors en­ter­ing Noida. To­day, (com­pared to the last few years) Noida prom­ises bet­ter ap­pre­ci­a­tion and re­turns on real es­tate in­vest­ments. The realty mar­ket in Gur­gaon is now ideal for the pre­mium seg­ment. There is a flip side to Gur­gaon -- prop­er­ties there are not likely to fetch high rates of ap­pre­ci­a­tion.

With the fast- paced in­fra­struc­ture de­vel­op­ment in Noida and ar­eas close by, real es­tate growth has truly picked up over the past few years. There have been an­nounce­ments for many new projects as well, which has had a pos­i­tive ef­fect on the real es­tate mar­ket.

The ex­ten­sion of the DwarkaNoida City Cen­tre t o Pari Chowk line will give di­rect con­nec­tiv­ity to Delhi and other NCR ar­eas. The Noida Metro Rail Cor­po­ra­tion (NMRC) has got the re­quired ap­provals for the 29- kilo­me­tre- long NoidaGreater Noida Metro link from the state gov­ern­ment, as well. Simultaneously, the Greater Noida In­dus­trial De­vel­op­ment Au­thor­ity (GNIDA) has plans to set up its own power plant, which will pro­vide un­in­ter­rupt- ed power sup­ply to the re­gion.

Though Noida is known for its af­ford­able hous­ing projects, there are nu­mer­ous lux­ury projects also in the pipe­line. Th­ese projects will span both Noida and its ad­join­ing ar­eas. De­vel­op­ers l i ke Su­pertech Ltd, 3C Company, Prateek Group, Lo­tus Greens and Wave In­frat­ech have launched su­per­lux­ury projects with three to five BHK apart­ments of 2000 to 4000 sq ft. and priced in the range of ₹ 1 crore to ₹ 3 crore in the area.

With good in­fra­struc­ture, metro con­nec­tiv­ity and good road net­work, real es­tate de­vel­op­ment in the Noida re­gion is pick­ing up rapidly. This is im­por­tant, since in­fra­struc­ture de­vel­op­ment is the pri­mary draw for buy­ers and in­vestors. Up­com­ing ma­jor projects like the Ex­port Pro­mo­tion Zones and Taj Eco­nomic Zone along the Ya­muna Ex­press­way are likely to push the eco­nomic de­vel­op­ment of this re­gion. Need­less to

The Ben­galis in Delhi are not the same as their brethren in Kolkata. Th­ese are words of wis­dom from a pan­dal- hop­ping Ben­gali in the Cap­i­tal. In a sense, the Ben­galis in Delhi have carved their own niche and cre­ated their own iden­tity. While the first wave of Ben­galis came to Delhi in the late 1800s in search of more op­por­tu­ni­ties once the rail­way line was laid, the sec­ond wave came in as refugees of the Par­ti­tion. Here’s a look at the his­tory and the real es­tate mar­ket in two of the tra­di­tion- say this will have a rip­ple ef­fect on the real es­tate de­vel­op­ment.

In fact, the pos­i­tive re­sponse from buy­ers and in­vestors in Noida has now made it the pre­ferred des­ti­na­tion for launch­ing new projects and ex­pe­dit­ing ex­ist­ing ones. All in all, Noida is be­gin­ning to emerge as one of the bright­est stars in Delhi NCR real es­tate. ally Ben­gali neigh­bour­hoods in the city.

Ti­marpur

Lo­cated in north Delhi near the Univer­sity of Delhi, Ti­marpur started out as a pri­vate colony for gov­ern­ment ser­vice em­ploy­ees. This was where Ben­galis em­ployed in the post and tele­graph de­part­ments and other gover nment bod­ies moved when the Cap­i­tal was shifted from Kolkata to Delhi in 1911. The old sec­re­tariat, viceroy’s of­fice, etc were in the vicin­ity and hence this was a con­ve­nient place of res­i­dence for Ben­galis i n t he gover nment sec­tor. Anand Sen­gupta, a cor­po­rate pro­fes­sional, and a long-time

The tremen­dous rate of real es­tate de­vel­op­ment across the globe, es­pe­cially in young, emerg­ing na­tions, is im­pos­ing im­mense pres­sure on the en­vi­ron­ment and its nat­u­ral re­sources. With rapid de­vel­op­ment, there is a lot at stake when we look at im­por­tant fac­tors such as en­ergy avail­abil­ity and en­vi­ron­men­tal sus­tain­abil­ity.

The real es­tate sec­tor is one of the ma­jor con­trib­u­tors to global warm­ing due to the ex­ten­sive pol­lu­tion dur­ing the con­struc­tion process as well as emis­sion of green­house gases dur­ing the life­cy­cle of the re­sul­tant build­ings. On an av­er­age, build­ings con­sume about 20% of the to­tal en­ergy avail­able in a coun­try, and this trend is in­creas­ing with ev­ery pass­ing day.

Mount­ing con­cern for the en­vi­ron­men­tal im­pact of real es­tate has ne­ces­si­tated the for mu­la­tion of sus­tain­able so­lu­tions. This has led to the ad­vent of the sus­tain­able real es­tate and re­lated ‘green homes’ con­cepts. At its ba­sis, sus­tain­able real es­tate is all about us­ing re­sources sus­tain­ably and ad­dress­ing the de­mands of the present with­out com­pro­mis­ing the abil­ity of fu­ture gen­er­a­tions to meet their own needs.

Green hous­ing or eco-friendly homes are an in­te­grated ap­proach to­wards min­imis­ing the ad­verse ef­fects of con­struc­tion and its op­er­a­tion on the en­vi­ron­ment and pro­mot­ing health­ier liv­ing for peo­ple.

It has been ex­ten­sively doc­u­mented that liv­ing in con­ven­tional build­ings has been work­ing against res­i­dents, both in terms of liv­ing stan­dards and the costs of ex­ces­sive en­ergy con­sump­tion. The first and fore­most con­straint for the pro­lif­er­a­tion of green build­ings in In­dia is the lack of in­for­ma­tion and in­cor­rect per­cep­tions. It is gen­er­ally be­lieved that green build­ings cost more and take a long time to pay back in tan­gi­ble en­ergy sav­ings. Such a per­cep­tion leads to lower de­mand lev­els from the larger buyer base. In fact, the ad­di­tional cost fac­tor is rapidly re­duc­ing as more and more de­vel­op­ers get into the ‘green homes’ arena, since there is in­creased com­pe­ti­tion. Also, green homes re­sult in sig­nif­i­cantly re­duced util­i­ties bills right from the start.

Also, many de­vel­op­ers are de­terred from adopt­ing the ‘green mantra’ in their projects be­cause green build­ings may in­volve in­creased con­struc­tion costs. They may also find it chal­leng­ing to ob­tain the nec­es­sary tech­nolo­gies, source green build­ing ma­te­ri­als and find ap­pro­pri­ately qual­i­fied ar­chi­tects. The over­all ben­e­fits of green build­ings de­pend on the ex­tent to which sus­tain­able fea­tures are in­cluded dur­ing the ini­tial plan­ning and de­sign. In some cases, such fea­tures can also be in­cor­po­rated after the build­ing is com­plete. A few green fea­tures do not qual­ify a build­ing as en­vi­ron­men­tally sus­tain­able.

To en­sure that a gen­uinely ‘green’ res­i­den­tial project is not mis­taken for one of the many wannabes, it is im­por­tant for their de­vel­oper to ob­tain ac­cred­i­ta­tion from the green rat­ing sys­tems fol­lowed in In­dia. GRIHA ( Green Rat­ing for In­te­grated Habi­tat As­sess­ment) is one such sys­tem which ver­i­fies all that a build­ing has ad­hered to on the pre­scribed pa­ram­e­ters, and that the ma­te­ri­als and pro­cesses have been used at ev­ery stage of con­struc­tion. Once all the re­quire­ments are met, the project is cred­ited as a green build­ing’.

Clock­wise from left: Durga puja at Ti­marpur by the Ti­marpur and Civil Lines Durga Puja Samiti; a pan­dal at Chit­taran­jan Park; Bhog khichuri be­ing served at the Delhi Durga Puja Samiti, Civil Lines

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