Maharashtra considers more incentives to green buildings

April 8th, 2011 - 10:27 pm ICT by IANS  

Mumbai, April 8 (IANS) Committed to promoting green homes in the state, the Maharashtra government is considering various incentives and subsidies, including granting extra floor space index (FSI), to green projects, a top official said here Friday.

“We have many plans to encourage green homes, by giving both financial and non-financial incentives to these projects. We will give top priority in giving environmental clearances to green projects,” said Valsa R. Nair Singh, the state’s environment secretary.

The government would also announce reduction in the consent fee for green buildings and in some cases, even waive it altogether, Nair Singh said at a conference on eco-friendly projects, organised by the Indian Green Buildings Council (IGBC).

The government would also give a longer duration of consent validity for such green buildings, she added.

Nair Singh said the government is looking into the question of providing extra FSI for buildings adhering to green house norms and pointed out that green homes are not just eco-friendly, but also profitable in the long run.

V. Suresh, who chaired the conference, said that green homes across the country have resulted in energy savings of 40-50 percent and water savings of 20-30 percent.

“The market potential for green building materials, equipment and services in India is $100 billion by 2015. Though there is a two to five percent additional cost for green buildings, it can be recovered in just a year because of various savings incurred by such homes,” he said.

IGBC chairman P.C. Jain said the differential price for green homes is coming down and with greater implementation of green homes across the country it will cost the same as a normal home.

At present, over 150,000 homes in the country are being constructed as per IGBC norms and 1,000 “green” buildings with 630 million square feet space are coming up.

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