Tata Capital > Blog > Loan for Home > What are Green Buildings and Green Homes?
Green buildings and green homes are structures that make use of environmentally responsible and resource-efficient processes through all the stages of their making – starting from design, construction, operation, maintenance, renovation and deconstruction. They focus on eliminating the negative impacts and increasing the positive impacts of the construction process over climate and resources.
The goal of a Green Building
Technologies are constantly evolving to make traditional buildings more sustainable or ‘green’. However, green building as a concept focuses on reducing the overall impact of an artificial environment (building) on its natural counterpart. They strive to reduce waste and pollution, adopt green energy sources, use green practices of construction and enhance wellbeing of the inhabitants.
As of November 2018, nearly 14 lakh houses in India have chosen to go for a ‘green building’. This is about 6.33 billion sq ft. However, this constitutes a miniscule 5% of total residential properties present in the country. India has an ambitious target of having 10 billion sq ft green building footprint by 2022. This is expected to increase the green footprint in India by around 10%.
Characteristics of a Green Building
Cost of a Green Building
Green buildings are often criticized for being expensive due to the use of renewable energy, high-tech appliances and modern technology. Maintenance and repair of these technologies and other natural materials is also expensive. Thinking of the expenses, housing finance for green homes is also not a usual norm in the market. Despite these difficulties, what is important to understand here is the premium that one pays for building a green home is recovered by the yield one gets.
Green buildings and green homes are the future of modern architecture. They offer environmental, economic and social returns that cannot be overlooked. Different countries have different resources, environmental factors, and economic and social priorities at play – all these factors need to be accounted for before constructing a suitable green building.
Looking for a convenient home loan option for your next dream home? Tata Capital’s Home Loans offer flexible home loan eligibility criteria, attractive home loan interest rates, and easy home loan documentation. Visit your nearest Tata Capital branch for your next housing loan!
Home Loan Balance Transfer – Benefits and Factors to Consider
Difference Between Home Extension Loan And Home Loan Extension
Everything You Need To Know About Processing Fees For Home Loan
What is the difference between a Villa, Bungalow, and Duplex apartment?
Pros and Cons: Higher Floor vs Lower Floor living – Which is better?