Winning Bizness Desk

Mumbai.Homebuyers in India are no longer choosing a property only on the basis of location, price and amenities. Sustainability is rapidly emerging as an equally important factor as buyers increasingly look at long-term savings, healthier living conditions and environmental impact before making a purchase. A recent Square Yards report says green homes may cost around 3.5-4% more to build than conventional houses, but they offer substantial savings over their lifetime by reducing electricity and water consumption.

Green homes are designed to minimise pressure on natural resources while improving energy efficiency and indoor comfort. They incorporate features such as solar power systems, rainwater harvesting, efficient waste management, natural lighting and better temperature control. These measures not only reduce the environmental footprint but also help homeowners lower their monthly utility expenses. According to the report, sustainability is now becoming as important as traditional buying parameters like price and location.

Saving more despite higher upfront cost

The report highlights that sustainable homes can significantly reduce recurring household expenses. Key benefits include:

• Water consumption can decline by 30-50%.
• Electricity costs may reduce by 20-30%.
• Better indoor temperature control lowers cooling needs.
• Improved resource efficiency enhances long-term affordability.
• Healthier living spaces improve residents' quality of life.

India's rapid urbanisation is making sustainable housing increasingly important. Around 400 million more people are expected to live in cities by 2050, while the country's residential building stock is projected to double by 2070. At the same time, the construction sector contributes nearly one-third of India's greenhouse gas emissions. Against this backdrop, environmentally friendly housing is being viewed as a practical solution for balancing development with climate goals.

Understanding the 'green housing paradox'

Despite growing awareness, buyers often struggle to compare the sustainability credentials of residential projects because relevant information is scattered across technical reports, certifications and developer disclosures. The report describes this challenge as the "green housing paradox". While consumers value healthier homes and lower utility bills, they often lack simple and transparent information to make informed decisions. Sustainability is therefore becoming a decisive factor alongside affordability and convenience, influencing both property quality and long-term living standards.

India currently has more than 19,715 green projects spread across over 16 billion square feet, along with over 130 net-zero projects. Collectively, these developments are expected to save around 199.3 billion litres of water and 66.4 billion units of electricity annually while reducing carbon emissions by about 53.1 million tonnes every year. To bridge the information gap, Square Yards has launched the Square Yards Green Living Index, which converts RERA data, sustainability disclosures and location-based information into an easy-to-understand score for homebuyers.

Key takeaways:

• Green homes require about 3.5-4% higher construction cost.
• Water consumption can fall by up to 50%.
• Electricity bills may reduce by up to 30%.
• India has over 19,700 green residential projects.
• More than 130 net-zero projects are operational.
• Green Living Index aims to simplify home-buying decisions.
• Sustainability is emerging as a key buying benchmark alongside price and location.

Future driven by transparency and climate goals

India has committed to achieving net-zero carbon emissions by 2070, making sustainable housing a critical part of future urban development. Experts believe transparent sustainability ratings will play a major role in helping buyers make informed decisions. According to Dr Priyanka Kochhar, improved access to reliable sustainability information will remove confusion and allow buyers to evaluate homes not only for environmental benefits but also for long-term financial savings.