It has been certified as green in 31% of all office space in the top six cities.

Nearly one-third of all office space in six major cities has been certified as green, as real estate developers are paying more attention to sustainability in their projects, says CBRE. In a report called “Indian Real Estate’s ESG Landscape and its Progress to a Sustainable Future,” property consultant CBRE looked at office stock in the top six cities (Delhi-NCR, Mumbai, Pune, Hyderabad, Bangalore, and Chennai) to see how many of these cities have green-certified stock.

“Certified green office space grew by 177% to 212 million square feet in Q3, 2021 (July-September),” the report said. That’s up from less than 80 million square feet in 2011.

Consultant: Green real estate assets have grown a lot over the last decade, and their share of the total office stock has gone from 24% in 2011 to 31% in 2021, which is a lot.

It also says that the certified stock of office space has grown a lot, growing at a CAGR of 10.7% since 2011, compared to 7.7% for the whole stock.

This is what CBRE said: In the last five years, there has been a 37% rise in the number of buildings that have been certified. This compares to the previous five years (2012-2016).

“This shows that the Indian real estate market is becoming more aware of its responsibility to ESG principles and is moving quickly to make its assets more sustainable,” the report said, adding that this is a good thing.

India’s certified office space is spread across Delhi-NCR and Bengaluru, making up about 54% of all certified office space in the country.

Anshuman Magazine, Chairman & CEO – India, South-East Asia, Middle East & Africa, CBRE, says that ESG is a big part of CBRE’s business strategy, from how we run our business to serving our customers clients and helping them meet their own goals.

The big real estate companies that build office space, like DLF and Prestige, are very concerned about the environment and have received green certifications from LEED or the Indian Green Building Council. These companies are also very concerned about the environment and have been given LEED or IGBC certifications (IGBC).

Eco-friendly issues are also significant to the three Real Estate Investment Trusts (REITs) set up in India so far: Embassy Office Parks, Mindspace, and Brookfield India Real Estate Trust.

CEO Rishi Raj: “We’ve had a once-in-a-lifetime chance to change where we work and work, thanks to COVID.”

It used to be that office were just simple brick and mortar buildings, but now they’re more like a new, modern, and sustainable ecosystem that cares for you and your whole well-being.

Many companies now pay more attention to ESG, which has led to changes in their operations, partners, and workspaces.

Max Estates places a lot of emphasis on environmentally friendly design, energy-efficient operations, and the well-being of our employees through our unique work-well philosophy.

With ESG becoming more critical, the CBRE report said that green certification is also crucial to tenants when they choose where to live.

The report said that to build more green buildings, the government should give developers and owners of assets more FSI, lower statutory fees, and lower taxes.

Green buildings are also becoming popular in the residential market, and many developers are building these kinds of projects.

Some developers have recently said that they will only build green buildings and have places for electric cars to park in their new projects.