With more than 40 per cent of India's population projected to be in urban areas by 2030, the volume of green buildings will increase dramatically, reaching 20 per cent of all building stock by 2018.
The concept of green buildings is not new in India but it is not fully developed yet. Due to various discrepancies, the concept could not gain a foothold in India, but is now making gradual headway. Corporates, apart from their social responsibilities of environment and sustainability, foresee its long-term benefits. Green buildings make a great economic sense. The amount of saving through reduced power usage is the primary reason why so many buildings are going green all over the world.
Rajeeb Dash, AVP Sales and Marketing, Tata Housing Development Company Limited, talks to BW Businessworld about the company's green market portfolio and the economic viability of such projects.
Tell us about Tata's green corporate portfolio?Tata Housing is one of the very few real estate developers that is consciously focusing on cutting down its carbon footprint. The company follows the "green standards" for all its projects - from value homes to ultra-premium luxurious projects in India. Moreover, the company adheres to norms stipulated by the Indian Green Building Council (IGBC), Leadership in Energy and Environmental Design (LEED).
Tata Housing follows the highest "green" standards in the four broad categories of design and architecture, water conservation, use of renewable energy and sewage and garbage processing. In addition to this, the company's R&D department is always looking to innovate so as to find alternative materials and renewable sources of energy. The department is working on using waste such as fly-ash in concrete as a recycled - and, therefore, green building material. Today Tata Housing is one of the largest proponents of pre certified green building with over 70 million sq.ft.
Is it economically viable to construct or retrofit these building?In our opinion, the concept of green buildings is still evolving in India and costs are marginally higher than the conventional buildings. A green building may cost more initially, but it saves through lower operating costs over a period of time, over the life of the building. According to Indian Green Building Council, there are 2,362 Registered Buildings in which 447 are rated Green Buildings. Since customers today have also started recognizing and prefer green buildings, the costs of a green building could taper out once it becomes an industry norm. For building a green and energy efficient future, we need to focus on automation and control of processes, measurement and verification of energy consumption, integration of different systems in a facility such as access and security, life safety, building management systems, etc. Over the years, Tata Housing has adopted newer and greener technologies in line with its mission of providing quality life spaces through continuous innovation.
Which are the Tata projects or buildings under LEED certification? Are there any other projects in the pipeline?Tata Housing pioneered the concept of sustainable green development with its first commercial project - Xylem in Bengaluru (Bengaluru's first sustainable IT park), the project was awarded Gold certification by LEED and since then each and every project of Tata Housing, from low-cost housing and affordable housing to ultra-premium luxury projects, all are sustainable green developments duly certified by Indian Green Building Council.
Some notable projects that deserve mention include Prive, first villa project to receive with platinum rating, and Riva, an integrated community for senior living in Bangalore. Another project in the luxury space in Bangalore is The Promont. It has been crafted keeping with the sustainable green development programme under the guidance of the Indian Green Building Council and certified for LEED. Myst, the company's first residential development designed using biophilic architecture in association with Impact projects at Kasauli, integrates nature and architecture to create living spaces that are invigorating, inspiring, and comforting.
Your views on the overall 'going green' infrastructure in the country?Increasingly sensitized consumers seeking healthier lifestyles have further catalyzed this growth, pushing developers to design and deliver green structures. Tata Housing, committed to the cause of the consumer and the environment, has ensured that all of its projects are sustainable green developments under the guidelines of Indian Green Building Council. The company believes there is an immediate need to further sensitise both the industry and consumers to the importance of green and efficient technologies and the benefits in terms of savings. While an incentive scheme from the government will also help in boosting the industry.
BW Reporters
Naina Sood is a Economics graduate and has done her post graduation in International economics and Trade. She has deep interests in Indian economy and reforms