Green buildings seen as $30 billion-market in India

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A host of companies are showing keen interest for environment-friendly construction in India, pushing analysts to project the market size for "green buildings" to grow three-fold from $10 billion to $30 billion in the next four years.

"Two-three years ago, the market for green buildings in India was just $4-5 billion. Now it is around $10 billion. And studies show it will increase further to $30 billion over the coming four-five years," said French trade commissioner here, Sebastien Andrieux.

"What you invest in a green building you own it for ages. You will also save energy all the while. In a few years you recover your investment as well. So in the long term, it becomes cheaper than conventional construction," Andrieux told IANS.

The country even has an Indian Green Building Council, promoted by the Confederation of Indian Industry's Sohrabji Godrej Green Business Centre, to promote the concept, certify buildings as green and train professionals.

According to the council, the tangible benefits include 20-30 percent energy saving and 30-50 percent water saving, while intangible benefits include enhanced air quality, excellent day lighting, health of occupants and conservation of scarce resources.

"A green building is one which uses less water, optimises energy efficiency, conserves natural resources, generates less waste and provides healthier space for occupants, as compared to a conventional building," the council says.

The council, which has 1,332 members, some 1,262 buildings registered with it and 195 already certified, says the current green footprint among such buildings in India is 887.13 million sq ft.

Experts at an exposition on sustainable construction here Sunday said green buildings use technology that is environment-friendly and resource-efficient throughout its life. They also reduce the adverse health impact of materials on humans and reduce pollution.

"Green building technology not only helps sustainable development but also improves the return-on-investment, since it also comes with low maintenance," said Patrick Atkinson, global marketing manager for France-based Saint Gobain.

"Since the materials used are lighter, the use of concrete for pillars is drastically lower. So such buildings can also be taller. This, I believe, is also the demographic requirement in India to house as many people as possible."

According to V. Subramanian, managing director of Saint Gobain Gyproc India, the cost of construction with green building technology will certainly be 15-10 percent higher than conventional modes. But the structural costs are low.

"In conventional construction a huge amount of water is required besides man power. Green technology is not all that man-power intensive. Besides it also involves 'dry-walling' technology which does not require too much water," Subramanian said.

"The technology, now in use in metros, will soon penetrate smaller cities and towns."