Green homes up to 4% costlier, up to 30% savings on electricity and water: Sustainability becomes the new parameter in buying a house, focus on cost as well as savings.

The report says that living in a green home reduces expenses. Power savings and better temperature control reduce budget.

The criteria for buying a house is now not just location, price and amenities, but also sustainability. According to a report by proptech firm Square Yards, the construction cost of a green home can be 3.5-4% more than that of normal homes. But these prove to be more economical for the homeowner in the long run.

Sustainability means that houses should be built in such a way that they put minimal pressure on the environment and can save resources in the long run. This includes solar power, rain-water harvesting and waste management. Apart from being comfortable, they also provide savings by reducing electricity and water consumption.

Sustainable homes can reduce water consumption by 30-50% and electricity bills by 20-30%. By the year 2050, 40 crore people will live in cities in the country. Construction of houses in cities is estimated to double. The construction sector is responsible for one-third of the country’s total greenhouse gas emissions. This report has come at a time when the importance of eco-friendly homes is increasing. Buyers now need new criteria to choose the right project.

The report says that living in a green home reduces expenses. Power savings and better temperature control reduce budget. However, it is difficult for buyers to choose good projects as sustainability information is scattered among various certifications and technical reports. The report calls this the ‘green housing paradox’. Buyers prefer a healthy environment, but are unable to make a decision due to lack of information. Sustainability is now gaining equal importance to traditional factors like location and price. This affects the quality of the home and standard of living in the long run.

There are 19,715 green projects and 130 net-zero projects running in 16 billion square feet in the country. This will save 199.3 billion liters of water and 66.4 billion units of electricity every year. It will also help in reducing 5.31 crore tonnes of carbon emissions annually. Square Yards has also launched the ‘Square Yards Green Living Index’. It is a scale to measure sustainability, facilities, strength and smartness of the house. This system converts RERA information and location data into an easy-to-understand score for the common man.

Future – Environmental protection, transparency play a big role in net-zero goal

India has set a target of net-zero emissions by 2070. In the future, sustainability-related information will play a key role in consumer decision-making. According to expert Dr. Priyanka Kochhar, this will remove the lack of information. Now buyers will be able to choose homes from the perspective of environmental as well as financial savings.

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