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

Tata Housing to Unveil New Low-Cost Housing

Tata Housing Development Company, the realty arm of the Tata Group of companies, is set to launch a new scheme, titled New Haven, in the affordable housing segment. This follows the company's successful launch in May of low-cost apartments in Mumbai under the brand Subh Griha.

The new project will be launched at Boisar in Mumbai.

It will offer 1,300 apartments, including two-and-three-bedroom apartments.
These would be available in the price range of Rs 12.73 lakh to Rs 26.22 lakh and size range of 670 sq ft to 1,380 sq ft, a company's statement said on Thursday.

New Haven will set up a pan-India presence across Tier-I and Tier-II cities. Like all other properties of Tata Housing, New Haven will also be constructed under the guidance of Indian Green Building Council (IGBC).

Source: India Today, 2009-09-25, Link

Tata Housing Project Acquires Gold Certification

Tata Housing Development Company, a fully owned subsidiary of TATA Sons Limited, has received Gold Certification for Raisina Residency project, Gurgaon from Indian Green Building Council (IGBC).

With this, Tata becomes the first company in the country to receive the gold certification for residential projects.

Commenting on the accomplishment, Brotin Banerjee, MD & CEO, Tata Housing, said, "We are extremely pleased to receive yet another Gold Certification from IGBC, and this time in the residential space for our prestigious premium project, Raisina Residency, Gurgaon."

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Source: Rupee Times, 2009-07-21, Link