The announcement came during a panel titled “Real Estate and Sustainability: Building growth without building environmental debt,” moderated by N. Ravikumar of The Hindu, where Solanki, a regional technical and business development specialist at the IFC, outlined new financing incentives for green construction.
According to Solanki, a growing number of banks have introduced mortgage‑rate rebates for both individual house owners and commercial developers who meet an eight‑point checklist covering design, energy efficiency, water management and other green criteria.
She noted that green certification has moved from a niche practice to a mainstream requirement since 2013, with an increasing share of commercial and residential projects seeking certification; even affordable housing such as Tamil Nadu’s Thozhi Hostels have achieved green verification.
The panel identified a key barrier: many potential buyers and developers lack awareness of the long‑term cost savings and resilience benefits that green buildings provide, especially in monsoon‑prone regions where reduced maintenance and faster construction can be decisive.
Vishwajit Kumar, Managing Director of Navin’s Housing, added that a growing number of commercial properties are aiming for net‑zero carbon footprints and that tenants are willing to pay a premium for renewable‑energy amenities, although residential buyers have yet to demand similar features.
Bharath Kumar Venkatesan of Urbando observed that sustainable building is often perceived as a luxury tag, with many consumers prioritising immediate comfort and convenience over long‑term health and lifespan benefits, a mindset that hampers wider adoption.
All panelists converged on the need for stronger government support. They suggested that the Tamil Nadu state could offer an additional free FSI for green projects over a ten‑year period, a measure they believe would accelerate the sector’s shift toward standardised sustainable practices.