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Let’s go to Mysore.
In the company of the Mysore Palace, Chamundi Hills, and the Brindavan Gardens lies the campus of a tech company often credited with kickstarting the Information Technology revolution in India. A less commonly known fact is that their thought leadership extends to the world of real estate development as well.
In the early 2000s, Infosys faced a significant challenge: how to train thousands of new employees each year in its rapidly growing organization. Their solution – a sprawling, 350-acre campus in the southern Indian city of Mysore, equipped with state-of-the-art training facilities and residential accommodations for trainees.
While this solved a logistical problem for them, it also commenced their tryst with sustainability.
The campus features a range of sustainable design features and technologies. The office premises has various energy-efficient features including a building automation system, which controls and monitors the energy consumption of the campus. If you are wondering where all this energy comes from, the model campus features a 50-acre solar farm, which generates more than 8 million kWh of clean energy annually, meeting around 70% of the campus' energy needs.
The eye-popping facilities do not end here. This Infosys campus also employs state-of-art water conservation techniques. Rainwater harvesting systems and sewage treatment plants are used to recycle and reuse water, reducing the campus' water consumption by 40%. The campus also features an advanced wastewater treatment plant, which treats and recycles all the wastewater for non-potable uses.
Some of the other green features of this campus include:
- Electric vehicle charging stations
- Dedicated cycle tracks
- A fleet of electric vehicles for campus transport
- A massive area for green spaces that is home to around 45,000 trees and shrubs
- A large artificial lake that serves as a natural habitat for local flora and fauna
Why am I telling you all this today?
With Earth Hour being observed around the globe last Saturday, I want to base this edition of Open House on how and why real estate stakeholders are playing their role in fighting climate change and the benefits of doing so.
As the world continues to grapple with the challenges of climate change, India has emerged as a global leader in sustainable construction with its Green Building Movement - a global initiative that aims to create environmentally responsible and resource-efficient buildings.
Green buildings are designed to minimize their impact on the environment by reducing energy consumption, water usage, and waste generation. The employment of passive design strategies, the use of renewable energy, water conservation techniques, proper insulation, and energy-efficient systems play a key role.
In the case of homes in particular, these buildings have an edge over ordinary homes for the home buyer. They are energy-efficient as they consume relatively lesser energy and in turn, reduce greenhouse gas emissions. Not only does this benefit the environment but also reduces the operating costs for the tenants and the building owners. A penny saved is a penny earned!
Over the years, I have observed that green buildings tend to reduce the water usage of an average resident by employing water conservation techniques. At the same time, they are relatively healthier for occupants as the building’s design improves indoor air quality and reduces exposure to pollutants.
None of us can deny the fact that these buildings are going to serve us well in the long run. My research indicates that green buildings are found to be much more valuable than conventional houses in tier-1 cities today.
In the recent course, Indian Green Building Council (IGBC) has certified the construction of as many as 6,800 green buildings. These projects include commercial, residential, and institutional buildings, including infrastructure projects such as airports and metro stations.
Now whenever a project of this scale is undertaken, the government is bound to play a significant role and you can find something similar here. The government has launched a mandate that all new government buildings be constructed as green buildings.
The private sector is not far behind either. The success of the Infosys Mysore campus I highlighted in the beginning of today’s edition has inspired other organizations in India to adopt green building practices. It makes financial sense too as the payback period is less than five years for many of its sustainable features.
The introduction of green buildings to the Indian real estate industry has had a significant impact. I have observed that developers who have adopted these practices have improved their reputation and built a positive brand image in the market. These developers now attract a growing niche section of society that is environmentally conscious in their investments.
To those of you who look at the real estate industry as a means of investment, it would be wise to keep an eye on green buildings for long-term high returns. When compared to traditional buildings, lower operating costs owing to lesser consumption of energy and water are some of the most influential decision-making factors.
With government rules and regulations encouraging the construction of green buildings, it is a smart bet to purchase a green building over a conventional one in the current circumstances. If any reader here is looking to purchase their first home while living in the country’s top cities, explore the green housing options near you.
We do not know what the future holds for us but as Peter Drucker once said – The best way to predict the future is to create it. Shifting to green buildings is a great way for people to do their bit for the environment while saving a truckload of money in the long run.
Stay hungry, stay foolish.
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