Kanvic Consulting reposted this
Embracing Sustainability in Office Spaces: A Growing Trend The adoption of green-certified buildings in India’s office market has gained significant momentum. In Q2 2024, approximately 13 million square feet of office space was leased in green-certified buildings across the top six cities, representing a 24% year-on-year growth and accounting for an impressive 82% of total leasing activity during the quarter. This surge is driven by SEBI's mandatory sustainability reporting and carbon-neutral initiatives. Developers are responding to this demand, with 70% of new supply being green-certified in Q2 2024. Retrofitting older stock is also underway, as 300-350 mn sq ft of ageing office spaces hold potential for refurbishment. These green spaces offer tenants tangible benefits, including lower operational costs, improved indoor air quality, and enhanced employee productivity. Prioritising green-certified spaces helps advance broader sustainability goals, ensuring India's real estate sector contributes meaningfully to the net-zero mission and sets a benchmark for global sustainable urban development. #sustainability #growth #urbanisation #infrastructure #UrbanDevelopment #SEBI
