The CII-Indian Green Building Council (IGBC) today said that green buildings are financially attractive in spite of requiring about 5-8 per cent higher investments compared with conventional buildings as the cost gets paid back within three-four years.

Mr S. Raghupathy, Senior Director and Head, CII Godrej GBC, said there is immense potential for green building products and technologies and the market potential is huge.

“CII-Indian Green Building Council (IGBC), formed to usher in a green building movement in India, re-dedicates itself on Earth Day 2011 observed on April 22. It endeavours to re-define the way buildings are constructed in India in an ecologically superior way,” Mr S. Raghupathy, said.

A green building is one which uses less water, enhances energy efficiency, conserves natural resources, generates less waste and provides healthier spaces for occupants, as compared to a conventional building.

With a modest beginning of 20,000 sq ft of green built-up area in the country in the year 2003, today India has more than 1,050 registered Green Building projects with a built-up area of over 648 million sq ft. “This steady growth has been made possible due to the active involvement of various stakeholders,” he said in a statement.

Green buildings save 40-50 per cent of energy and 20-30 per cent of water. While intangible benefits include enhanced ventilation, better views and day lighting. Mr Raghupathy said “with 80 per cent of India yet to be built, the next two decades would present a great opportunity for the country to pursue the path of green buildings. This would result in immense national benefits.”

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