New high-rise residentials, new communities and mixed-use development are expected to be the top three sectors for the growth of green buildings in India, according to a report by Dodge Data & Analytics.
Conducted in nearly 70 countries, the report also demonstrates that global green building continues to double every three years.
20% growth expected in India in green building industry in the next three years, mainly on account of environmental regulation and rising demand.
The increase in consumer demand has pushed the world’s green building market to a trillion dollar industry, a surge that has led to a corresponding increase in the scope and size of the green building material market, which is expected to reach $234 billion by 2019.
The report found that green buildings offer significant operational cost savings compared with conventional buildings.
14% savings expected by respondents in operational costs over five year for new green buildings
13%savings expected in operational costs over five years for green retrofit and renovation projects.
7% increase in asset value of green buildings — whether new or renovated — over conventional buildings reported by building owners
Countries with green activity above the global average of 24% include South Africa, Singapore, India, Germany and Mexico.
Nations with the lowest percentage of respondents who expect to do new green institutional projects include Poland (15%), Mexico (25%) and India (26%).
It is notable that these are also the three countries with the highest percentage of those who expect to do new green commercial construction projects.