Reinforcing the Concept of Green Buildings in Indian Real Estate Industry

Abstract

In recent times the growing sense of environment protection has witnessed radical changes in industrial sector and real estate is no different. With passing time we have witnessed the growth of the concept of green buildings not only around the world but also in Indian real estate industry. In this work, the author will be indulging into the parley about the sudden outbursts of the concept of green building in India, what they are and the present legislative regime with scope of changes and improvements in the legal infrastructure for development in future. The importance of the concept of green buildings, its global and domestic (Indian) standing, and especially the need for the shift from traditional buildings to these sustainable forms of buildings will be brought into light. This work will be divided in three major sections, the first one will be talking about the concept of Green Buildings and why there is now a need to replace traditional buildings with these green buildings, succeeded by the parley discussing this concept in the business of Real Estate in Indian Market, this section will cover in brief the history of the concept of green building, its need, the current market situation and governments approach to promote it. This will be succeeded by a brief discussion of the lacunae in these attempts to promote this concept and will finally end with author’s opinion and suggestion over the subject.