TS set to rank 2nd in green building footprint by 2024: Sekhar Reddy

Hyderabad As India is committed to reaching net-zero carbon emissions by 2070, the Confederation of Indian Industry’s (CII) Indian Green Building Council (IGBC) has set a target of achieving 50 billion sq ft of green building footprint or net-zero carbon buildings by 2047, when India will celebrate its 100th year of Independence. The Hyderabad Chapter of IGBC has also set a target of doubling Telangana’s green building footprint, from the current 1.12 billion sq ft, by the end of 2024.

IGBC is holding its first edition of Green Property Show from July 28-30 at the Hitex Exhibition Centre in Hyderabad. The Government of Telangana is the Partner State for this event. More than 75 exhibitors will present green properties, products, and services.

India has over 10.27 billion sq ft of green building footprint, covering over 11,000 projects, making it one of the top three countries in the world. More than 700 projects in Telangana are going green, amounting to about 1.12 billion sq ft of green building footprint. This positions Telangana at the fifth rank, while Maharashtra is leading in green building footprint.

“We have started the ‘Green Crusader’ program, which coincides with World Environment Day. During this one-day event, we are calling on developers to register with IGBC, which no other state has done yet. This will lead to an increase in green building footprint, as each project is over three to six million sq ft. With this in mind, I am hopeful that we will double our green footprint in Telangana within one year and position Telangana as the second green performing state,” said C Sekhar Reddy, Chairman of IGBC Hyderabad Chapter.

When asked about the incentives that are needed to make green projects more appealing, Reddy said, "Reduction in property tax, a reduction of up to 20 per cent in building permission charges, a rebate on impact fees for tall buildings, and a 0.5 per cent reduction in stamp duty on registration charges - these factors will encourage better sales of green buildings."

Resetting the target for green building footprint, IGBC said that it is looking to achieve 50 billion sq ft of green building footprint by 2047, when India celebrates its 100th year of Independence.

“A decade ago, we set a target that by 2022, India's 75th Independence Day, the country should have gifted 10 billion square feet of green footprint. We have achieved this target. India is growing rapidly and 70 per cent of India in 2060 is yet to be built. Therefore, by 2047, India's 100th Independence Day, the country should gift 50 billion square feet of green building footprint to the world,” said Deputy Executive Director of IGBC M Anand to the media.