"Green Buildings in India: Balancing Costs and Sustainable Future"

Green buildings have emerged as a vital aspect of India's pursuit of sustainability, with numerous green projects sprouting across the nation. Many stakeholders believe that these structures can effectively combat the escalating pollution crisis through sustainable construction methods. An Anarock report highlights that green buildings can curtail energy consumption by 20-30% and water usage by 30-50%, reducing the necessity for artificial lighting and air conditioning, subsequently lowering carbon emissions. Moreover, these structures have a more eco-friendly footprint compared to traditional buildings.

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The cost of a green project can be reduced during inception or implementation by altering construction materials. Vikramjiet Roy, Managing Director of Maccaferri India, a sustainable solutions provider, highlights that alternative materials like geosynthetics are lightweight and durable substitutes for traditional materials in various infrastructure projects. These materials hasten construction, lower labour expenses, ensure long-term savings, and minimize maintenance costs. However, Roy advocates for careful cost-benefit analysis, as savings depend on project specifics and site conditions.

Although India ranks third globally for Leadership in Energy and Environmental Design (LEED) green buildings, less than 10% of its buildings are certified green. Ralhan urges a stronger focus on tier-II, -III, and semi-urban areas for accelerated adoption of green building concepts. Lack of awareness and the misconception of high incremental compliance costs hinder wider adoption. For the future, the residential building sector in India, with a CAGR of 12.5% (2015-20), is a significant driver, while the green building market has shown a 7.2% CAGR (2017-21). Experts recommend reconsidering the lowest bidder (L1) tender system and fostering public-private partnerships (PPPs) for long-term funding and sustainable infrastructure development.