India’s green building market is estimated to double by 2022 at 10 billion sq ft, valuing around USD 35-50 billion, driven by increasing awareness level, environmental benefits and government support, according to property consultant ANAROCK.
“Though at a nascent stage, India has emerged as one of the leading countries in terms of green buildings’ projects. India ranks only second after the US in terms of the number of green technology projects and built-up area,” said Anuj Puri, Chairman, ANAROCK Property Consultants.
More than 4,300 projects with about 4.7 billion sq ft of built-up area had registered for green technology as of September 2017, ANAROCK said in its report ‘Go Green – The Mantra for Sustainable Living’.
However, Puri said this is only about 5 per cent of the total buildings in India, and hence there is huge potential for further penetration of green building technology.