Redefining Real Estate Property in India

Government is adopting measure on reducing carbon emissions by planning to rope the major real estate developers by formulating compliances and voluntarily setting systems as well as new guidelines/procedures on building less cost and high efficient energy housing and office complexes as an emerging part of Real Estate in India. This step is declared in the general meeting held in New Delhi where DDA’s top official claimed that this action will be an up-move over national action plan concerning challenges for climate change.

Wherein the Ministry of New and Renewable energy (MNRE) has appointed an open forum by asking an expert agency to set up control mechanism by partnering ‘The Energy & Resources Institute’ (Teri) for more efficiently framing guidelines on the scale of building smaller and biggest projects. Special consideration will be on large housing complexes areas, to be designed for office or retail use as they have to be built in the manner for ever time fluctuations on regular movements, also requires a vibrant atmosphere to operate under special maintenance.

Under the new guidelines there will be a requirement of meeting at least 5-8% of the energy requirements through managing the renewable sources effectively, anyhow. As development of townships and infrastructure is a mandate for urbanization, partly for the increasing housing community and alleviation of urban poverty. This proposed green projects guidelines for developing housing structures as an initiative of MNRE is an extension to the other projects which it is already handling. Other ministries are also forming a part of this technical process by joining hands with MNRE initiative for rolling out standards for upcoming infrastructure projects and looking at larger picture in Delhi real estate market.

The combined effort of government and other ministries will surely redefine the look of real estate property in India by providing a tool key for efficient operation for property developers.