What do developers get for constructing green buildings?

Provided the cost that green residential commands, most of the home buyers prefer the comparatively conventional concrete houses. However, did you really know there are incentives that are actually introduced to make greener homes popular among you?

• The Urban Planning Department and Uttar Pradesh Housing provides for free of cost 5% additional Floor Area Ratio for the projects complying with 4/5 star Green Rating for Integrated Habitat Assessment (GRIHA) rating.

• Revised Haryana building bye-laws 201 recognized the greener building measures by the awards and projects advantages of additional Floor Area Ratio up to 25% by getting the site/building/project certified from GRIHA Council as well as achieve GRIHA rating according to the sub 4 or the adopting green norms. In addition to FAR for all the building users except the plotted housing. The extra FAR shall actually be given over and above the extreme permissible FAR.

• West Bengal government provides green campuses by Ministry of New and Renewable Energy a 10% additional FAR Sanction of building construction plan of green homes as well as additional FAR grant shall be allowed based completely on pre-certification by agencies.
• Pune Municipal Corporation provides discounts on premium rates payable to the corporation according to the star rating awarded by the GRIHA Council.

• Ministry of New and Renewable Energy is applying a program on the Development of Solar Cities where 100 small townships or campuses both existing and new ones, duly notified/permitted by concerned authorities that are being developed by builders or promoters, industrial towns/SEZs, institutional campus, etc. are actually proposed to develop as green campus during 12th 5-year plan. Financial assistance is up to Rs 5 lakh for preparation of the Master Plan as well as Development Project Report which includes the action plan for green campus development, renewable energy installations, awareness generation and training, etc. is available.

• Sikkim has adopted GRIHA for Government and semi-Government structures. These would conform to the minimum 3-stars GRIHA rating for propagating sustainable development in the state.

• Noida and Greater Noida have incentivized GRIHA project on plot of over 5000 square meter and above with 5% free of cost additional FAR for the projects for complying with 4/5 star GRIHA rating.

• Jaipur Development Authority has notified that buildings constructed on the plot area more than 5,000 square meter will be eligible for the additional 5% FAR free charge of they get 4/5 star rating from GRIHA

• Pimpri-Chinchwad Municipal Corporation will provide following discounts on premium amount of building the permission rates, according to level of rating awarded by GRIHA. Also, the home buyers have the advantage of 10% discount once construction is complete and handed over to the home buyer.

• Ministry of Urban Development issues the notification for local authorities to incentivize as well as provide 1-5% extra ground coverage as well as FAR for the projects of over 3,000 square meter plot size on the basis of the GRIHA evaluation.

• Punjab’s Development of Housing and Urban Development has basically notified than the additional 5% FAR, free charges shall actually be permissible to the buildings that give relevant certificated from Bureau of Energy Efficiency or from the GRIHA.

• Ministry of Environment and Forests, the Government of India issued memorandum to facilitate the fast track environmental clearance for GRIHA pre-certified projects.

• The Small Industries Development Bank in India has been giving financial assistance to the green buildings which are certified by Accredited Rating Agencies which includes GRIHA by proffering concessional interest rate, presently 50 basis points.