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Think Green: Kolkata CM Tells Real Estate Developers
Friday, February 29, 2008

Kolkata CM Buddhadeb Bhattacharjee urged real estate developers to think green. Speaking at the inaugural ceremony of the 'Realty Expo 2008' organised by Confederation of Real Estate Developers Association of India (Credai-Bengal) at the Science City grounds on Wednesday, Bhattacharjee asked realty barons to concentrate on developing green buildings which make greater use of solar energy.

The Chief Minister expressed his concerns on Global warming while explaining the rationale behind the need to have eco-friendly buildings. The government is considering the merits of making rainwater conservation mandatory for developers.

The green building has already started taking roots in the city, particularly in the IT parks arena. A typical eco-friendly building uses alternative energy sources, such as solar or wind, ensures water efficiency through rainwater harvesting and also has effective waster management systems in place.

According to Jones Lang LaSalle Meghraj, India's largest real estate consultancy firm, local developers can choose between two systems if they wish to secure a green rating for their buildings. The first is the LEED rating system of the Indian Green Building Council, which is managed by the CII Green Building Centre. The other is TERI's rating system termed GRIHA.

A Jones Lang LaSalle Meghraj study said that till September 2007, "Chennai leads the pack in terms of share in the total volume of certified green building space and also in number." Interestingly, the same study pointed out that in spite of having only one certified green building, Kolkata was second only to Chennai with a 15.7% share of the total green building space.

Some of the biggest names of India's real estate and construction arena, which includes the likes of DLF, Unitech and Shapoorji Pallonji, already have a presence in the state. Foreign giants like Indonesia's Salim and Ciputra groups, and Singapore's KeppelLand too have established a footprint in Bengal.



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