India real estate shifting to sustainability, says KPMG
India’s real estate sector is embracing sustainability and building a green future, a new report from KPMG claims.
The consulting firm’s Navigating the dynamics of real estate in India report, published in conjunction with India’s National Real Estate Development Council, says the industry is increasingly adopting renewable energy sources, particularly solar power, in alignment with India’s goals for a cleaner and more sustainable energy mix.
Data show that 82% of new Grade A office supply as of September 2023 was green certified. Construction and maintenance practices now integrate circular economy principles, promoting the reuse and recycling of materials, KPMG claims.
Sustainability measures are implemented throughout the entire value chain, bolstered by government initiatives such as the Green Rating for Integrated Habitat Assessment (GRIHA) and tax incentives which encourage developers to embrace sustainable design.