Despite government incentives, concept of green buildings has failed to catch fancy of real estate developers in Madhya Pradesh. This is much in contrast to booming real estate markets like Gurgaon (Haryana), Mumbai, Bangalore and Hyderabad where ‘green’ is the in-thing.
Not a single building in the state is rated ‘green building,’ which uses less water, optimizes energy efficiency, conserves natural resources, generates less waste and provides healthier spaces for occupants, as compared to conventional buildings. There are 352 green-rated buildings in the country, approved by Indian Green Building Council (IGBC).
According to real estate developers, due to lengthy certification process, the concept has failed to kick-off in the state.
Jitendra Mehta of Mehta and Associates, who is also a member of IGBC from state, said, “The process is lengthy. The initial registering certification amount is costly. Initial cost of construction projects rises by 15-20 per cent. Due to competitive market, most of the developers do not go for certification.”
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