For us and our family, our houses are secure havens. With considerable changes in lifestyles and work cultures, at-home time increased dramatically, and the house developed from being only a physical location to a hub of work, play, and life. People spent more time with their families since they were confined for so long, emphasizing the emotional tie linked with one's home. Everyone recognized this emotional need and the significance of having a house in the face of uncertainty, as well as the favourable influence on health and comfort. Millennials, in particular, have transitioned from being asset-light to investing in real estate. According to Morgan Stanley analysis, India's property market sales are predicted to expand at a compound annual rate of 18 per cent from 2020-25, because of the youthful, educated workforce and the considerable increase in expendable income.
This surge in demand has helped the housing sector significantly. According to IBEF, the Indian real estate business is predicted to be worth $1 trillion by 2030 and contribute 13% to GDP by 2025. Given this tremendous increase, real estate developers and the industry as a whole are critical in ensuring that the growth is sustainable, resulting in a healthy ripple impact on the overall economy and the environment. Green living spaces are thus the need of the hour and hence real estate sector is likely to promote green development projects. These projects are accentuating the contours of sustainability.Furthermore, the influence of climate-related concerns has been explicitly acknowledged.
Climate change's effects are global in scope and unparalleled in scale, ranging from altering weather patterns that imperil food production to rising sea levels that raise the risk of catastrophic flooding.According to the UN Intergovernmental Panel on Climate Change, human impact on the climate system is undeniable, and human activities still have the capacity to decide the future path of climate, leading to significant and persistent emissions reductions to limit climate change. Understanding this, there is a clear shift in the lifestyles of today's customers, with sustainability taking precedence. Sustainable development is the ideal answer since it meets all of the requirements. Such advancements aid in the achievement of human development goals while also preserving the ability of natural systems to supply the natural resources and ecosystem services on which the economy and society rely. These advancements address current requirements without jeopardizing future generations' capacity to meet their own.
Green-certified buildings are consequently becoming the favoured option for the environmentally-conscious generation. Green buildings are constructions that are ecologically mindful and sustainable throughout their existence. Green buildings are climate-resilient, use less water, use less energy, save natural resources, create less waste, and improve biodiversity via sustainable design, construction, and operations. As a result, they provide improved ventilation, enough daylight, higher air quality, and general well-being, thereby achieving the fundamental criteria of healthy housing. Green-houses also lower building running costs, enhance productivity and efficiency, and deliver greater ROI, higher asset/rental value, property tax refunds, and savings on recurring expenditures such as power, water, medical, and other bills. In terms of children, the ability to walk to school as well as greener surroundings provide them with significant mental, physical, and social developmental benefits, prevent screen addiction and promote their evolution into environmentally conscious and responsible citizens.
According to a UNICEF discussion paper titled 'The Need for Urban Green Space for Children's Optimal Development,' children who grow up in green areas are frequently less sad, less stressed, and overall healthier and happier. Increasing safe and accessible green spaces promotes not just a child's holistic development, but also a slew of substantial health, economic, and environmental advantages to citizens in general. According to UNICEF, cities currently house around 55% of all children - over 1.5 billion. Children in cities will number around 1.9 billion by 2050. As a result, in the contemporary situation, caregivers, communities, institutions, corporations, and governments must work together to build new green spaces and improve existing green spaces in urban districts.
One of the sustainability factors for preserving the well-being of residential communities is the planned green and open areas. The age groupings in the residential communities are diverse, and everyone deserves the opportunity to live a better life. Specific facilities for the elderly, such as a healthy social hour, the ability to pursue beloved activities, and being active in greener environments, can have a significant influence on their life. These can have a greater influence on families that live in thriving neighbourhoods. Thus, housing surroundings should provide people with pleasant experiences by providing a variety of green environs, which leads to physically and mentally joyful, healthy living.
Furthermore, the country's building industry accounts for around 22% of total emissions. As a result, the sector has enormous potential to tackle climate change and pave the road for a carbon-neutral future. According to a JLL analysis titled 'Sustainable Real Estate: India's Response to a Greener Future,' real estate is viewed as a game-changer in fulfilling the sustainability goal by 81 per cent of respondents. Developers should set science-based decarbonization objectives for attaining carbon-neutral operations and develop appropriate long-term frameworks. Sustainable living spaces not only nourish families but also help us fulfil our responsibility to the environment and the communities in which we live, while also making the world a better place for future generations. As a result, it is critical to speed the incorporation of sustainable technologies and approaches into the design of homes - the safest abodes. It is critical to make green construction a revolution in India, and ethical real estate developers must be at the lead to continue creating the narrative.
With the clear advantages that environmentally friendly and resource-efficient construction offers, modern homebuyers are not only aware of these aspects but actively seek them out. This is made feasible by the ability of environmentally friendly and resource-efficient buildings to generate their own electricity, have better methods for capturing water, and even boost biodiversity. Buildings that are environmentally friendly also provide several financial advantages to various real estate industry players. Major concerning factors to be considered in building green housing projects aresocial, economic, and environmental stability. Numerous Indian real estate developers have adopted sustainable housing as their new mantra. These groups are working quickly to develop a large-scale, commercial, or residential architecture that improves people's quality of life. Although cheap housing for economically disadvantaged households has received a lot of attention in India through programmes like Pradhan Mantri Awas Yojna (PMAY), there has mostly been little effort to make decentralised energy-efficient technology more widely available.
India has become one of the top nations when it comes to the execution of green building projects, even in its infancy. In terms of a number of green technology projects and constructed areas, India comes in second place in the United States. The market for eco-friendly homes in India is now in its infancy, with only 5% of structures being categorized as green. The Indian Green Building Council (IGBC) projects that by 2025, the potential market for green building and household technologies would be worth $300 Billion because of the slowly increasing demand for them, especially after the epidemic. By 2022, the market for green buildings in India is predicted to treble to 10 billion square feet, with a worth of between US$35 and US$50 billion. This possible growth in the infrastructure can be a promising factor to invest in the projects that promote sustainable housing projects. In the Tie–II cities the business of real estate is booming this has worked well for the semi-urban population living in these areas. Real estate developers in these cities can look forward to the potential growth in the future due to the mass migration of people as well as the comfortable option of sustainable living.
Agrawal Construction Co. and green building projects in the urban environment have similar goals. We are a well-known real estate developer in Central India. We are dedicated to producing home complexes that are the definition of sustainable living. Even though we are a builder with more than 30 years of expertise in the real estate market, we always stay on the cutting edge of new innovations and adapt to them. In our most recent phase of development, we are creating the SAGE Green City & SAGE Green Hills Projects, which are outfitted with cutting-edge facilities, smart technology, and an ecologically conscious design. These improvements to residential areas assist you in selecting a property that perfectly balances modernism and tranquilly while maintaining environmental harmony.