Environment friendly construction in the real estate sector
Climate change has been a major concern globally and efforts are taken by countries across to reduce the carbon footprints. Along with the automobile and FMCG industries, real estate sector is also making a turnaround to being clean and environment friendly. The modern Indian consumers are for all green. The real estate sector specifically, is seeing a huge demand by consumers for sustainable as well as green facilities. According to the Global Construction 2020 report, India is estimated to be the third largest global construction market after China and USA. The Indian construction equipment industry’s revenue is estimated to cross over $22 billion by the year 2020. A sudden surge in the urban migration has also led to the demand for more housing, and green buildings are considered as the need of the hour for the eco-friendly loving consumers.
Advancement of technology has been a game changer and is playing a crucial role in meeting these growing demands. The latest technology has effectively aided in reducing operational expenses, improving customer service, building competencies and leading to more effective resource utilisation. The infrastructure and realty sector have been quick to adopt cloud, Virtual Reality (VR), the Internet of Things (IoT), Machine Learning (ML) and Artificial Intelligence (AI). For example, intelligent robots can source material and aid the huge material cost for builder. Applications are being built to engage, interact, and retain clientel.
A touch of technology has assisted in the path to make construction green as well. The greenhouse gas emitted during the construction and the piled up wastes from the real estate sector is a matter of concern. The construction equipment are heavy equipment that requires lot of fuel or energy to operate. The advancement in the technology has provided the industry with advanced construction equipment which are engineered in a way that they consume less fuel and can control emissions. With the new BS(CE) IV norms coming into force from October 2020 for Roadable construction equipment, the Indian Construction Equipment Industry is moving towards a tighter environmental regulatory framework. The industry is also awaiting notification of the CEV IV norms for the off road equipment like hydraulic excavators, large wheel loaders and other infra equipment which are today not part of CMVR regulations.
Another concept that has emerged as a counter to adverse effects on the environment due to the construction is that of green building. Developers are taking a step towards building green homes through the adoption of natural, eco-friendly materials which are not only helping the environment but also bringing a good quality of life for the occupants. Green buildings are estimated to reduce energy consumption by 30%, 40% of water consumption and the waste generated. Builders are required to obtain accreditation ratings from green rating systems in India through Indian Green Building Council. Currently there are over 90% of the green buildings in India which are facilitated by IGBC. Usage of green fixtures that help in the usage of less water, allows natural ventilation, come with large open spaces, and practicing of initiatives that allows in the saving of heat and water adds to the maximum benefit of the green projects.
Environment friendly practices have gained prominence amongst consumers, not only as being green, but also for being cost effective. Even though, the construction expenditure stands ahead for a green project compared to the basic infra, the sustainability and maintenance expenditure is to the lower side. The buildings also entails a higher real estate value, the benefits added on by the government to increase sustainable projects make it even more attractive. India has seen a progress in terms of the adaptability to greener buildings. As per the IGBC board, till date, there are over 5,142 registered green projects and has a built up area of 6,723 Million Square feet. With a major boost given by the Government on ‘Housing for All’, there is tremendous scope for promoting green houses in the country. Few of the many initiatives headed by the state governments and local bodies and certification programmes are creating an acceptance and demand amongst builders as well as the buyers for eco-friendly construction.
Today, India is one of the top five Countries in the world in terms of largest registered green building footprint, with various types of projects adopting IGBC green building rating systems. This presents an enormous opportunity to design all urban habitats as green from day one and influence the way of life of people who live in such cities.
By greening our built environment at the neighbourhood and city scales, the green building industry can deliver on large-scale economic priorities. Benefits of going the green way include climate change mitigation, energy security, resource conservation and job creation, long-term resilience and quality of life.
In this connection, the Tenth edition of CII Excon 2019 scheduled to be held from 10-14 December 2019 in Bengaluru would focus on building India’s infrastructure in an ecologically sustainable manner. The theme, ‘Smart I-tech Next-Gen India@75’, is designed around the vision given by the 5-I’s, namely Infrastructure; Innovation; Internet; Intelligent; and Interconnected. The 5Is seamlessly integrate different dimensions envisioned in the main theme that would define the world of tomorrow. India’s infrastructure requirements are humongous, as is the potential, Excon plans to sensitize visiting companies about the variegated options to choose from and provide new innovative ideas for inspiration, demonstrate the possibilities in Industry through internet and digital connectivity, exhibit range of intelligent machines which are used in infrastructure projects, exhibit total equipment integration which would help in efficient work and adherence to tighter timelines on infrastructure projects. Excon 2019 is the best marketplace for the construction equipment industry and will facilitate business and help the CE industry leverage the 5 Is to its advantage.
by Dimitrov Krishnan, Managing Director, Volvo CE India Private Ltd; Member, CII EXCON 2019 Steering Committee; Vice President – ICEMA