Monday, October 28, 2013

50pc of built up area in India to go green by 2025


Chennai:
The Green Building Congress has set a target of having 50 per cent of built up environment in India to be green by 2025 after the addition of addendum number one in the National Building Code (NBC).
Chairman of Indian Green Building Council Prem C Jain said that once the green building component is added to the NBC as addendum number one before 2015, all the buildings in the country should be certified green before getting the completion certificate.
He said the revised National Building Code is expected to be ready in the next six months and is likely to take a year to be implemented The Code will be called “Approach to Sustainability’.
He said that IGBC expects that by 2025, 40 billion square feet built up space in the country would be green.
Interestingly, Jain says IGBC has entered into an memorandum with National Housing Bank to finance the green projects at a reduced rate of interest. “Already State Bank of India has this component of reduced rate of interests for the green homes,” he said.
“We are also trying to rope in Housing development Finance Corporation, Life Insurance corporation and ICICI to provide one per cent reduction in rate of interest for housing loans,” he said.
Currently, India has 1.65 billion square feet built up green space of the 30 billion built up square feet from the ancient times till now.
He said another 80 billion built up space will be added by 2030 of which he expects 50 per cent to be green building.

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