Green Buildings Lure Premium Buyers

Green seems to be the latest buzzword in the construction industry. “There are 1,046 green projects currently underway across India,” said Shabbir Kanchwala, vice-president, project coordination, K Raheja Corp, which is developing six commercial green projects in Mumbai. “Spaces in these buildings cost marginally more than regular projects.”

“Today a green property is priced 2-25% higher, depending on the rating,” said Gulam Zia, national director, research, Knight Frank. “The ratings are based on guidelines set out by Leed-India, run by the Indian Green Building Council and based on a system developed by TERI and the ministry of new and renewable energy.”

As recently as 2000, buyers had to pay about 30-40% higher for green buildings.

“Though the initial cost for developing a green building may be higher than that of conventional buildings, the long-term benefits are many. This extra cost can be recovered in 2-3 years through energy savings and low maintenance costs,” said Brotin Banerjee, managing director and CEO, Tata Housing.

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Source: Hindustan Times, 2011-04-25, Link

Maharashtra Considers More incentives to Green Buildings

Committed to promoting green homes in the state, the Maharashtra government is considering various incentives and subsidies, including granting extra floor space index (FSI), to green projects, a top official said here Friday.

"We have many plans to encourage green homes, by giving both financial and non-financial incentives to these projects. We will give top priority in giving environmental clearances to green projects," said Valsa R. Nair Singh, the state's environment secretary.

The government would also announce reduction in the consent fee for green buildings and in some cases, even waive it altogether, Nair Singh said at a conference on eco-friendly projects, organised by the Indian Green Buildings Council (IGBC).

The government would also give a longer duration of consent validity for such green buildings, she added.

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Source: TwoCircles, 2011-04-09, Link 

New Delhi Airport Terminal Achieves LEED-Gold Rating

The Indian Green Building Council has awarded the vast Terminal 3 at Indira Gandhi International Airport LEED-Gold certification for new construction.

Built in just 37 months, the 5.4 million-square-foot integrated domestic and international terminal opened in July 2010 and is designed to handle as many as 34 mln travelers a year, more than doubling the facility's previous capacity.

Indira Gandhi International is the second largest airport in India and the eighth largest in the world. Designed by HOK International, Terminal 3 is the first airport building in the country to receive a LEED-Gold rating. Earlier, Rajiv Gandhi International Airport in Hyderabad received a LEED-Silver rating.

Terminal 3 at the international airport in Delhi emphasizes natural light, construction materials and interior finishes with high recycled content and battery-operated vehicles for transporting travelers between terminals.

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Source: GreenBiz.com, 2011-04-07, Link