Thursday, May 30, 2024

Sustainable construction practices in real estate projects

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The real estate sector has played a vital role in India’s economic growth over the years and contributes significantly to India’s GDP. Real estate accounts for almost 40% of the world’s energy consumption and one-third of all carbon emissions. India has taken on a greater leadership role by reducing carbon emissions, which has helped it gain recognition on a global level.
A shift towards green buildings and sustainable practices in the real estate sector is on the rise. Green buildings make a significant difference in fostering sustainability and enhancing the well-being of individuals and communities through sustainable construction techniques and green building practices! These buildings incorporate innovative design strategies, environment-friendly materials, and energy-efficient solutions to reduce their environmental footprint.
One of the key contributions of these green buildings is the integration of renewable energy generation. Through the use of solar panels, wind turbines, and other sustainable energy systems, these buildings not only decrease their reliance on fossil fuels but also contribute to the overall reduction of greenhouse gas emissions.
In addition to renewable energy, water conservation and waste management are also prioritised in top green buildings. These buildings utilise innovative technologies and practices to reduce water consumption, such as low-flow fixtures, rainwater harvesting systems, and greywater recycling. By implementing effective waste management strategies, including recycling and composting, these buildings minimise the amount of waste sent to landfills, promoting a more circular and sustainable economy.
Furthermore, top green buildings have a positive impact on the overall quality of life for their occupants. The use of eco-friendly materials and design elements, such as natural lighting and ventilation systems, creates healthier indoor environments, improving air quality and enhancing occupant comfort.
The construction industry is also evolving with advancements in technology, changes in regulations, and market trends. Companies that embrace these trends are better positioned to seize opportunities and gain a competitive advantage. Sustainable building materials can be used for interior and exterior applications, making them an ideal choice for any construction project.
Sustainable construction materials are eco-friendly materials made from renewable resources, such as bamboo, recycled plastic, and other natural fibers, and require less energy to produce than traditional building materials like concrete or steel. New and innovative building materials are launched every day. Some are recycled, like sand, aggregate, and ready-mix concrete, from recovered materials. New concepts in construction include glass fiber-reinforced gypsum panels and monolithic concrete construction using aluminum formwork, which are more efficient and eco-friendly methods, Photovoltaic panels and solar tiles are used to harness the sun’s energy, keeping the future bright for construction materials.
The government also incentivise green building practices for builders and consumers and offers several tax benefits. Additional Floor Area Ratio (FAR), extra ground coverage, and fast track approvals are among the benefits available for constructive efforts to be green.
The future of the real estate sector is exciting, and while meeting the needs of our growing population from a well-mannered perspective, real estate companies must hope to create a better and healthier lifestyle. We must try to reduce our environmental carbon footprint, from the production of materials to waste disposal. Sustainable construction and development techniques and practices will help reduce carbon emissions and conserve natural resources.

(The author, Sanjeev Agrawal, is President of the PHD Chamber of Commerce and Industry (PHDCCI).)

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