Green office stock can reach 700 million square feet in India within the next 2-3 years: Report

Ahmedabad, April 18 (IANS). Green office supply in India is expected to rise to 700 million square feet within the next 2-3 years. This information was given in the report released on Friday. The report said that the rental ratio in Green Certified Buildings is expected to rise to about 80-85 percent in the coming time, which is currently close to 75 percent. There is a major change in the real estate of India. The importance of sustainability is increasing and all types of assets are seen. According to the Credai Colliers report, the occupancy level in green-certified buildings is up to 80-90 percent, and the rate is 25 percent higher than normal. In India, the Green Certified Office shares in India were 503 million square feet, which was 66 percent of total grade A stock in the top six cities. The report said that the Green Office share has increased by 40 percent since the beginning of this decade, showing the growing commitment of developers. Bengaluru has 31 percent in green certified office stock, 19 percent of Delhi NCR and 17 percent of Hyderabad. Credai -President Shekhar G. Patel said: “The real estate sector plays a decisive role in the leadership of India to a sustainable, low carbon -future. Now, the part of green certified buildings in the new development has increased, making it clear that stability of real estate in all asset classes becomes in all asset classes.” According to the report, the Green Building area in all asset class in 2024 almost doubled to 13 billion square feet. The report said that by 2024, more than 20 lakh units, 6,500 commercial projects and 750 industrial projects were certified green and there was a possibility to accelerate the acceptance of sustainability in real estate areas in the coming years. -Ians ABS/ Share This Story Tags