Sustainability in real estate. Not the future. The present already.

The concept of sustainability is no longer limited to the affluent; it is gaining prominence as a lifestyle choice, particularly in the luxury real estate industry. High-worth individuals (HNIs) are growing in preference for eco-friendly properties that offer comfort and luxury. This change is evident in their consumption habits, extending from their choice of attire to their residential preferences. The pressing issue of climate change is evidenced by rising sea levels, global warming, and erratic weather patterns, which impact everyone.

In the #LuxuryRealEstate sector, we're not just building high-end, luxurious projects but setting new benchmarks for sustainable practices. Developers now focus on homes that minimize environmental impact and aim for net-zero carbon emissions without compromising premium amenities. India's commitment to sustainability is evident, as it ranked third globally in the U.S. Green Building Council's 2023 list of top countries for LEED certification, with 248 projects covering over 7.2 million square meters certified as eco-friendly.

The luxury housing market in India is experiencing a significant upsurge, driven partly by the impact of the pandemic. The need for expansive, well-appointed homes in gated communities has become more apparent. As per Mordor Intelligence, India's luxury residential real estate market is set to expand from US$ 38.02 billion in 2024 to US$ 101.92 billion by 2029, representing a compound annual growth rate (CAGR) of 21.81%.

Sustainability is now a necessity, not a trend. Developers are embracing eco-friendly materials such as reclaimed wood, bamboo, and recycled resources, as well as energy-efficient systems and renewable energy sources like solar, wind, hydro, and biomass. Green features like solar panels, energy-efficient appliances, green roofs, and sustainable design elements like roof gardens and green spaces are standard in modern luxury developments.

R&D investments drive innovation in eco-friendly materials, while circularity principles—reduce, reuse, recycle—guide sustainable construction practices. Local sourcing not only enhances sustainability but also strengthens local economies.

Sustainability in luxury real estate is the future, and responsible real estate developers are already proud to lead this transformative journey.

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