Housing and commercial infrastructure project developers have now started developing sustainable habitats.
Developers such as BESTECH India, Madhya Pradesh Housing and Infrastructure Development Board, Madhya Pradesh Police Housing and Infrastructure Development Corporation, Ireo Hospitality Company, Vatika Ltd and Conscient Infrastructure have tied up for a Green Rating for Integrated Habitat Assessment (GRIHA) for the same.
Sanjay Seth, Chief Executive Officer at GRIHA Council, told BusinessLine , “A higher GRIHA rating allows additional floor area ratio as well as a discount on the tax payable while registering property. The quantum of incentives depends on State governments. Haryana offers an up to 25 per cent additional FAR while Pimpri Chinchwad Municipal Corporation offers up to 50 per cent discount on premium amount of building permission charges.”
The developers have also signed MoUs with the GRIHA Council for assistance during the pre-construction, building planning and construction as well as the building operation and maintenance stages. Seth said, “They end up as resource efficient habitats both during their construction and once completed.”
While BESTECH India has committed 19 million sq feet of projects, the Madhya Pradesh Housing and Infrastructure Development Board, Madhya Pradesh Police Housing and Infrastructure Development Corporation and Conscient Infrastructure Private have committed all their upcoming projects. Ireo Hospitality too has committed all its upcoming projects and in the first phase, 10 million sq feet of building footprint has already been signed up for a GRIHA rating. Vatika has committed all proposed upcoming projects, and its completed projects will be brought under the existing building rating systems.
The green buildings can considerably lower emissions, according to Subrata Dutta Gupta, Principal Financial Officer, International Finance Corporation. He said, “Assuming 20 per cent green penetration and 20 million houses constructed by 2022, we can expect to avoid emitting 4 million tonnes of Green House Gas (GHG) emissions annually. This is equivalent to taking 800 thousand cars off the road and saving 430 million cubic meters of water, which is equivalent to water supply to an additional 4 billion homes.”