A recent trend has been highlighted where the the occupiers’ preference to lease green-certified buildings has been seeing an uptick in India.
According to a report by real estate consultancy Colliers, during the April-June quarter this year, 12.9 million square feet (msf) of office space has been leased in green-certified buildings across the top six cities in India.
Among all sectors, BFSI holds the second-highest share with 19% alons with the Engineering & Manufacturing.
The technology sector accounted for the highest share, about 27%, in the cumulative space taken up in green-certified buildings since January 2023.
Which city holds the maximum share?
As per the report, the data was shared for six cities namely, Bengaluru, Chennai, Delhi NCR, Hyderabad, Mumbai and Pune.
Since January 2023, the highest leasing of green-certified office buildings was witnessed in Bengaluru at 16.5 msf. It was followed by 11.8 in Delhi NCR and 11.2 msf in Chennai.
“Real estate developers are increasingly aligning their offerings with global sustainability standards, simultaneously presenting various tangible benefits to their tenants including lower operational costs, improved indoor air quality and enhanced employee productivity,” Colliers said.
Spike in total Grade A green stock soon
Since January 2023, green buildings have accounted for 78% of all office space supply in the country. The consultancy predicted that in the next two to three years, the majority of the over 150 msf Grade A office developments in various stages of construction across the six major cities are likely to be green-certified.
This would increase the total Grade A green stock to over 600 msf in India.
