The availability of green real estate assets in India
According to a recent analysis from real estate consulting firm CBRE South Asia, over the last five years, India has seen a 37 percent growth in the availability of green real estate assets or residences that are ESG (environmental, social, and governance) compliant, demonstrating an increase in awareness within the Indian real estate zone for integrating sustainability in its holdings.
“In comparison to the preceding 5 years (2012-2016), there has been a suggested push in the direction of green homes; the duration saw a 37 percent boom within the supply of licensed homes, with the addition of — seventy-eight million sq. ft. of licensed inventory,” the report “Indian Real Estate’s ESG Landscape and its Progress to a Sustainable Future” stated.
Over the last decade, green real estate assets in India’s top six cities — NCR, Mumbai, Pune, Hyderabad, Bangalore, and Chennai — have grown dramatically, with their share of the entire office inventory rising from 24 percent in 2011 to 31 percent in 2021. Certified inventory has also improved significantly since 2011, with a CAGR of 10.7% compared to 7.7% for general inventory since 2011.
Similarly, the study revealed that NCR and Bangalore together account for nearly 54 percent of India’s total licensed workspace inventory. While NCR and Hyderabad top the pack in terms of the proportion of licensed dwellings in their respective overall inventories, with 44 percent apiece, Chennai comes in third with 37 percent. Meanwhile, Mumbai (16%) and Pune (15%) have the highest percentages. “The intersection of global challenges has focused attention on ESG issues, putting a spotlight on corporate real estate (CRE) leaders’ motivation and objective,” said Gurjot Bhatia, Managing Director — Project Management, CBRE India, Middle East, and North Africa.
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