New govt buildings must be sustainable
Kamal Meattle, June 4, 2009
The Indian construction sector is growing rapidly at 13%, despite the recession and slowdown in the global economy, contributing 10% of India’s GDP.
The need of the hour is to look at clean and environment friendly construction technologies and this must set the tone of the agenda for the new government. The government must ensure that all new construction, at least all government buildings in the country, is green, and effectively demonstrates the benefits to the private sector.
In the past few years, the concept of green buildings has caught the imagination of the real estate sector. It has been proven over time how a green building can help in reducing operational expenditure by a marginal increase in CAPEX, thereby shoring up the financial bottom line.
The reason why developers do not invest in green buildings is because they don’t run the building and are not aware about the savings in running costs. The buyers of such buildings need to be made aware of this fact and be informed so that they demand buildings with lower running costs from developers.
The slowdown also poses a great opportunity for the construction and real estate sectors in terms of reducing chances of cost overruns and hence it’s attractive to build green now.