Magicbricks, India’s leading real estate platform, has reported a significant trend towards sustainability in premium residential projects. Over the past two years, 28.4% of newly launched developments have integrated eco-friendly features such as rainwater harvesting, waste disposal systems, and water storage facilities. This shift reflects a growing awareness among homebuyers regarding the environmental impact of their choices.
During a recent panel discussion hosted by Magicbricks, Dr. Monto Mani, a professor at the Centre for Sustainable Technologies at the Indian Institute of Science, Bengaluru, emphasized that modern buildings must go beyond mere sustainability. He stated, “Buildings today must actively contribute to fixing the planet. How do they achieve this? By using materials that absorb carbon rather than those that emit it during manufacturing.” Dr. Mani advocated for innovative designs that can withstand climate change through passive techniques, urging a reinterpretation of vernacular architecture for contemporary applications.
Prasun Kumar, Chief Marketing Officer at Magicbricks, echoed these sentiments by highlighting that sustainability has become a key driver of real estate investment. He noted that homebuyers are increasingly recognizing the long-term financial and environmental benefits of eco-friendly projects. “With sustainability-focused developments seeing higher appreciation, investors are prioritizing green features when making purchase decisions,” Kumar stated. This trend indicates a broader acceptance of sustainable living solutions in India’s residential market.
Dr. Shailesh Agrawal, Executive Director at the Building Materials and Technology Promotion Council (BMTPC), discussed the technological advancements needed in construction to promote sustainability. Under the Pradhan Mantri Awas Yojana (PMAY), initiatives like the Technology Sub-Mission are promoting the use of alternative sustainable materials and climate-resilient buildings. Currently, around 1.6 million houses are being constructed using eco-friendly materials under PMAY (Urban), significantly reducing greenhouse gas emissions.
Sumati Sahgal, VP of Retail at Schneider Electric, pointed out that there is a growing demand for sustainable housing within the luxury segment. She noted that luxury housing has seen substantial growth, with an increase of 28% last year alone, and is expected to stabilize around 25-30%. Today’s homebuyers seek what she describes as the four pillars of a future home: safety, style, smart technology, and sustainability.
On the international front, Aarti Harbhajanka, Founder and Managing Director at Primus Partners India, highlighted how government incentives are shaping sustainable housing globally. She stated that equitable housing is often subsidized through government support from various bodies, which plays a crucial role in promoting sustainable living solutions on a larger scale.
The insights shared by industry leaders during this panel discussion reinforce that sustainability is no longer an option but a necessity in modern real estate. This shift is influencing not only government-backed affordable housing initiatives but also premium and luxury developments. With rising awareness and regulatory support, the transition towards green, energy-efficient, and climate-resilient homes is set to redefine India’s housing market.
Key Highlights:
- Magicbricks reports that 28.4% of new residential projects incorporate eco-friendly features.
- Dr. Monto Mani emphasizes buildings must actively contribute to environmental solutions.
- Prasun Kumar highlights sustainability as a key driver for real estate investments.
- Government initiatives like PMAY support sustainable construction practices.