Ahmedabad: Gujarat is on the verge of announcing a new policy aimed at encouraging the construction of green buildings, aligning itself with several other progressive Indian states. According to insiders at the Indian Green Building Council (IGBC), the state government currently offers a 5% discount on the Floor Space Index (FSI) for green buildings. However, this incentive pales in comparison to states like Punjab, which provide up to a 10% discount on FSI for similar projects.
Former IGBC Ahmedabad chairman, Sameer Sinha, emphasized the critical role of the real estate sector in achieving India’s ambitious target of carbon neutrality by 2070. “With 40% of greenhouse gas emissions emanating from the built environment, it is imperative for the government to introduce a forward-thinking green policy. This includes offering higher FSI incentives for green buildings, beyond the current 5% discount on premium FSI,” Sinha stated.
The IGBC has proposed several recommendations to the state government to promote green building initiatives. Among these is the provision of additional FSI for green projects to motivate developers. Moreover, the association has urged the government to develop a comprehensive long-term strategy that mandates green building practices in all new town planning (TP) schemes.
By adopting these measures, Gujarat can significantly bolster its green building landscape, contributing to national sustainability goals and setting a precedent for other states to follow. As the policy announcement looms, stakeholders in the real estate and construction sectors are keenly anticipating the potential boost in green development incentives, which could herald a new era of eco-friendly construction practices in the state.
