On World Environment Day, Construction Xperts presents a special feature on how sustainability is reshaping the real estate sector. Leading industry voices share insights on the transformative impact of green building practices and sustainable development strategies. This exclusive feature explores the changing dynamics of sustainable real estate, offering valuable perspectives and strategies from top experts. Readers will gain profound insights into how sustainability is not just a trend but a fundamental shift shaping the future of the industry.
Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd
The infrastructure sector along with the real estate sector is key for achieving the goal of ‘Vikshit Bharat’. We are confident that the new government will continue its focus on both infrastructure development beyond metro and large cities and on the real estate sector, as they have a multiplier effect on the economy. The real sector has seen good growth in the last few years and is poised to achieve new heights. We hope the new government will extend the income tax benefits on home loans in the new income tax regulations as well. We also expect the new government to address some of the challenges faced by these sectors and take the lead in convincing the GST Council to ease the burden of Goods and Services Tax (GST) on both developers and consumers.
Mr. Sridhar Samudrala, Founder, Hecta
“Sustainability is not just a trend in real estate investment; it’s a fundamental shift reshaping our approach to the market. Investors are increasingly recognizing that sustainable practices lead to long-term value and resilience, which are essential in today’s economic landscape. Properties that prioritize energy efficiency, resource management, and environmental impact are not only more attractive to tenants but also tend to deliver better returns and lower risks. This approach is redefining our industry, pushing us toward a future where sustainability, profitability, and social responsibility go hand in hand, ensuring a positive impact on communities and the planet.”
Mr. Harish Fabiani, Chairman, IndiaLand Group
“Sustainable living backed by climate consciousness is reshaping the USD 40.71 billion Indian commercial real estate sector and transforming how we build and invest in properties. Today, green buildings have become more than a trend, as evidenced by the growth in green real estate, which recorded a 61% penetration in Q4 of 2023. This momentum is most prominent in IT cities, with Bengaluru and Hyderabad recording 71% and 61% green penetration in the office building segment. We believe the interest of eco-conscious tenants and sustainability-focused investors backs this notable growth. This new crop of investors is more interested in ESG-compliant IT parks featuring sustainable design, solar panels, rainwater harvesting systems, and energy-efficient lighting systems, to capitalize on their higher market demand and sale value than conventional spaces. As the green commercial space navigates growth, we anticipate an uptick in investments in green office spaces.”
Mrinaal Mittal, Director, Unity Group
“Sustainability is a fundamental shift redefining real estate on World Environment Day. Developers and investors increasingly prioritize green building practices, energy efficiency, and sustainable materials. This transformation reduces environmental impact and enhances property values and occupant well-being. As climate change challenges intensify, the real estate industry must innovate to meet demand for eco-friendly spaces. Technologies like smart home systems, renewable energy sources, and water conservation measures are becoming standard. Sustainable real estate is proving that environmental responsibility and economic growth are not mutually exclusive but rather complementary paths to a resilient future.”
Mr. Kaushal Mehta, Managing Director, Walplast
“As the world marks World Environment Day, Walplast Products Pvt Ltd takes a moment to reiterate our deep-rooted commitment to the principles of sustainability and environmental stewardship. In the realm of construction materials, we understand our pivotal role and the significant environmental footprint that comes with it. That’s why we are taking strides to embed Sustainable ESG practices into the very DNA of our operations—going beyond mere compliance to actively seeking ways to surpass environmental benchmarks.
Every small step is a giant leap towards sustainability, from integrating recycled materials in our products to embracing cutting-edge technology that reduces both waste and energy use. planet. We are also harnessing renewable energy sources such as solar power to decrease our dependence on fossil fuels and thus, shrink our carbon footprint. We are adopting a lifecycle approach to ensure that our materials remain sustainable from the initial stages of production right through to their eventual disposal, promoting a lifecycle of recyclability and biodegradability. These efforts are crucial in fostering a more environmentally conscious approach to production and consumption.”
Mr. Lalit Aggarwal, Co-Founder & Vice Chairman of Signature Global (India) Ltd.
“As urbanization accelerates and water resources become increasingly strained, it is critical for industries such as real estate to take proactive measures to address the impending water crisis. As a responsible corporate, Signature Global has always adopted a proactive approach for ESG. The majority of our projects are either EDGE certified or IGBC gold-rated, demonstrating our commitment towards the environment. Through our various optimum water use practices, we save around 52% of water usage.
“These amenities include low-flow water faucets and toilets, rainwater collecting systems, and wastewater treatment and reuse facilities. By incorporating these techniques into the design and construction of our developments, we not only reduce our effect on local water resources but also improve the overall resilience of urban water systems. At Signature Global, we recognize the value of sustainable practices in ensuring the long-term survival of our cities and are committed to continuing our efforts to conserve natural resources like water, which is the elixir of life.”
Mr. Ashish Sharma, AVP Operations, Brahma Group
“The increasing focus on green buildings by developers highlights a significant shift towards sustainable construction practices. Moreover, driven by both regulatory incentives and market demands, developers are integrating energy-efficient designs, renewable energy sources, and sustainable materials into new and existing buildings. Furthermore, GRIHA is one such important certification that has encouraged real estate developers to design buildings focused on their resource consumption, waste generation, and overall environmental impact. The embrace of green building practices not only contributes to a clean environment but also enhances the quality of life for occupants through improved air quality and reduced utility costs. Furthermore, as green building practices continue to evolve, we can anticipate widespread adoption of net-zero energy buildings and smart technologies, leading to even greater efficiency and sustainability in the foreseeable future.”
Mr. Mahesh Anand, President, Nippon Paint India (Decorative Division)
“As one of leader in the Green Movement, Nippon Paint is dedicated to building a more sustainable future and continuously striving for greater impact. Our commitment to sustainability has earned our factory the prestigious “GreenCo Gold” certification, acknowledging significant reductions in waste, water, and energy consumption. We proudly offer nearly 70 “GreenPro” paints, formulated to be environmentally friendly.
We are not just painting a green picture; we are actively creating a greener reality. Our sustainable production efforts have led to a 30% decrease in factory waste and a 45% drop in CO2 emissions, resulting in a reduction of carbon footprint and an increase in resource availability for land restoration. Furthermore, by reducing water usage by 60%, we conserve a vital resource for the future. Our tree plantation and rainwater harvesting initiatives directly support our local ecosystems and reduce our reliance on freshwater sources—a crucial step in combating climate change, a major driver of desertification and drought.
The future of a sustainable environment in the industry includes integrating circular economy principles, advancing green technology innovations, and fostering collaborative efforts across sectors. At Nippon Paint, environmental protection is a continuous commitment. While proud of our progress, we recognize there’s always more to be done.”
Conclusion
On World Environment Day, industry leaders emphasize a crucial shift towards sustainability in real estate. With climate change and environmental degradation looming large, the need for sustainable practices in the sector becomes ever more apparent. From innovative green building designs to the adoption of renewable energy sources and responsible land use, real estate professionals are embracing a new approach that values environmental stewardship alongside profitability. By integrating sustainability into their operations, developers, investors, and other stakeholders not only contribute to a healthier planet but also future-proof their businesses in a rapidly changing market. As we mark World Environment Day, let’s renew our commitment to fostering a more sustainable future through conscientious practices in real estate development and management.