Ahmedabad, April 18
The green office inventory in India is projected to reach 700 million square feet (sq ft) in the next two-three years, a report showed on Friday, adding that the proportion of leasing in green-certified buildings is expected to rise from 75 per cent currently to about 80-85 per cent in the next few years.
India’s real estate sector is undergoing a major transformation, with sustainability emerging as a key cornerstone and growth driver across asset classes.
According to a CREDAI-Colliers’ report, green-certified office buildings have higher occupancy levels at 80-90 per cent, commanding rental premium of up to 25 per cent.
As of 2024, green-certified office stock in India stood at about 503 million sq ft, representing 66 per cent of the total Grade A inventory across the top six cities.
The 40 per cent rise in green office stock since the beginning of the ongoing decade reflects developers’ commitment to evolving market scenario and the resultant occupier preferences.
Notably, Bengaluru accounted for 31 per cent of India’s green-certified office stock, followed by Delhi-NCR (19 per cent) and Hyderabad (17 per cent).
In terms of green penetration which is indicated by the share of green-certified buildings in the total Grade A office stock in each city, Hyderabad led other major markets with a penetration rate of 75 per cent, closely followed by Bengaluru with 73 per cent in 2024.