Bengaluru is leading the charge in India's green building movement, with a remarkable 68% of its total leasing activity focused on eco-friendly spaces. This trend underscores the city's commitment to sustainable practices and highlights the growing demand for environmentally responsible commercial real estate.

Key Highlights:

• Impressive Green Leasing Growth: Green leasing in Bengaluru witnessed a substantial 22.85% year-on-year increase, reaching 12.9 million square feet in Q2 FY24.

• Industry Leaders Embrace Sustainability: Engineering and manufacturing firms are driving the green leasing trend in Bengaluru, demonstrating a clear preference for sustainable workspaces.

• National Shift Towards Green Buildings: Across India's top six cities, 13 million square feet of office space leased in Q2 were green-certified, representing a significant 82% of total leasing activity.

• Developer Response: Recognizing the growing demand, developers are actively retrofitting older buildings and incorporating sustainable features into new constructions.

• Promising Future: The Grade A green stock is expected to surpass 600 million square feet in the coming years, indicating a bright future for sustainable commercial real estate in India.

Bengaluru's Green Success Story:

Several factors contribute to Bengaluru's impressive green leasing performance:

• Corporate Sustainability Initiatives: Companies are increasingly prioritizing sustainability, aligning their goals with national targets and seeking green-certified office spaces.

• Developer Innovation: Developers are responding to market demands by integrating sustainable features into their projects, making green buildings more accessible and appealing to occupiers.

• Government Support: Government policies and incentives aimed at promoting green building construction and adoption have further accelerated this trend.

The Advantages of Green Buildings:

Green buildings offer a myriad of benefits for businesses:

• Cost Savings: Energy-efficient designs and technologies translate to reduced utility bills and lower operating costs.

• Employee Well-being: Improved indoor air quality, access to natural light, and green spaces create a healthier and more productive work environment, boosting employee satisfaction and engagement.

• Enhanced Brand Image: Occupying a green building showcases a company's commitment to environmental responsibility, attracting eco-conscious clients and employees and bolstering its brand image.

Conclusion:

Bengaluru's leadership in green leasing sets a powerful example for the rest of India. The city's impressive statistics demonstrate the viability and appeal of sustainable commercial real estate. As more businesses recognize the value of green buildings, we can anticipate a continued surge in green leasing across the country, paving the way for a greener and more sustainable future.

-source: thehindubusinessline