Green Building Boom: The Eco-Friendly Revolution in Office Leasing

In 2024, leasing of green-certified office spaces soared by 20%, hitting 492 lakh sq. ft., as corporates prioritized sustainability, reports CREDAI and Colliers. Real estate's role in reducing emissions aligns with India's climate goals, with 75% of Grade A leases in top cities opting for green buildings.

In a notable shift towards sustainability, the leasing of office spaces in green-certified buildings surged by 20% in 2024, totaling 492 lakh square feet across six major Indian cities, according to a report by CREDAI and Colliers. This trend reflects a growing corporate emphasis on environmentally sustainable practices.

The report, 'Sustainability in Real Estate: Towards a Greener Skyline,' highlights the real estate sector's potential to significantly contribute to India's ambitious climate objectives, including achieving net-zero emissions by 2070 and reducing carbon intensity by 2030. Green buildings, with their advanced energy-efficient technologies, are playing a pivotal role in this transformation.

As of 2024, about 75% of Grade A office leasing transactions in top cities like Delhi-NCR, Mumbai, and Bengaluru occurred in green-certified buildings. This shift is not merely a matter of preference but a strategic move towards fulfilling Environmental, Social, and Governance (ESG) goals that are increasingly influencing corporate real estate decisions.

(With inputs from agencies.)