More green buildings in India by 2018 HIGH POTENTIAL
Driven largely by environmental regulations and demand for healthier neighbourhoods, the green building industry in India is likely to grow at a rate of 20% by 2018. New high-rise residential buildings and mixed-use development are expected to lead the green building growth in India, says a report by Dodge Data & Analytics World Green Building Trends 2016 Smar t Market Report of which the US. Green Building Council (USGBC) is a contributing partner.
The report, conducted in 70 countries, also says that global ly green buildings continue to double every three years.
“International demand for green buildings, largely due to LEED green building programme’s global popularity, has grown steadily over the years,” says Rick Fedrizzi, CEO and founding chair, USGBC. “As countries like India continue to urbanise at a breathtaking pace, they need the necessary tools that support stable and sustainable economic growth. International business leaders and policy makers recognise that a commitment to transforming the built environment is crucial to addressing major environmental challenges.”
Increasing consumer demand has pushed the world’s green building market to a trillion dollar industry. This has led to a corresponding increase in the scope and size of the green building materials market, which is expected to reach $234 billion by 2019.
“The growth of LEED reflects its global adaptability as the world’s most widely used and
New high-rise residential, buildings and mixed-use development are expected to lead the green building growth in India
Increasing consumer demand has pushed the world’s green building market to a trillion dollar industry
This has led to a corresponding increase in the scope and size of the green building materials market, which is expected to reach $234 billion by 2019
Green buildings are known to offer significant operational cost savings
recognised system guiding the design, construction, operat i ons and maintenance of green buildings,” says Mahesh Ramanujam, COO, USGBC. “LEED is a critical tool in creating structures that mitigate greenhouse gas emissions; create healthier indoor environments for workers, students and community members; and lower utility bills for building owners through reduced energy and water use – all benefits that are incredibly important to India.”
Globally, economic forces were cited in the SmartMarket Report as the most important drivers for many of the countries surveyed. The report found that green buildings offer significant operational cost savings compared to conventional buildings. Respondents expect a 14% savings in operational costs over five-year savings for new green buildings and 13% savings in operational costs over five years for green retrofit and renovation projects.
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