Buying A Green Home? Here's How Much You Get To Save

Green has become the order of the day to overcome the rising environment-related challenges. Not just commercial, but residential projects too are now opting for green-construction norms.

However, there are many homebuyers who shy away from investing in a  property the moment words such as ‘environment-friendly’, ‘green’ and ‘platinum-rated’ are attached to it, thinking that it will be heavy on their pocket. In the past few years, some established industry giants have come to the market with expensive homes packaged as ‘green’, priced far from affordable. There were some that tried to offer affordable green homes but failed eventually as the overall cost of construction pulled them down.

PropGuide in interaction with Head of Sustainability at Mahindra Lifespaces Dr Sunita Purushottam discusses how cost-effective green homes eventually can be.

PropGuide: Can environment-friendly homes be affordable in the long-run?

Purshottam: Green buildings are built in harmony with nature. They consume less water, optimise energy efficiency, conserve natural resources and generate less waste, while providing healthier living spaces for occupants when compared to conventional housing projects. For residents, this translates into tangible benefits in the form of savings in water and electricity utilities, while intangible benefits include enhanced ventilation, adequate daylight, superior air quality and an overall sense of harmony and well-being. Green developments are not expensive in the long run; any marginal incremental cost is soon offset by a reduction in energy and water consumption in early lifecycle stages.

PropGuide: What can homebuyers expect in a green home?

Purshottam: Based on the Lifecycle Assessment or Living Building Assessment at our Bhandup-based project Splendour, buyers of green homes could expect benefits in the form of cost savings for individual units. This includes savings of 15-25 per cent on power bills through maximisation of natural light and use of solar heating systems and energy-efficient walls and roofs. Through low-flow water fixtures and Sewage Treatment Plant-treated water, buyers can also reduce water bills by 10-20 per cent.

PropGuide: Can buyers expect more savings as the years pass by?

Purshottam: The World Green Building Council estimates energy savings of 40–50 per cent and water savings of 20–30 per cent in a green building when compared to a conventional counterpart. Homebuyers can also look forward to reduced maintenance costs and savings of up to 10 per cent when compost is used for landscaping or when recycled water is used for flushing purpose. Savings of up to 70 per cent can be seen in electricity bills for common areas through the use of LEDs and solar power.

In certain cases, use of solar can even lead to 100 per cent savings in common areas, lifts and pumps, with a payback period of three to four years.

More than 75 per cent rainwater can be harvested to recharge the groundwater table and dependency on water tankers is minimised in green homes that are designed for water self-sufficiency.

If the project opts for 100 per cent waste segregation, it can potentially generate annual revenues to the tune of Rs 2,000 for each unit (from the sale of excess compost, high-value recyclables).

And if non-VOC paints are being used, residents can expect better indoor air quality.

PropGuide: By how much will the monthly bills reduce (approximately) if a potential homebuyer goes for a green home?

Purshottam: Depending on monthly expenditure (on electricity, water and society maintenance), a household may expect to save roughly Rs 2,000-8,000 per month or Rs 25,000-100,000 per annum. All this translates to a lower total cost of ownership for green homes. However, we need a systemic shift in perspective, both of builders and customers.

PropGuide: What do you have to say to homebuyers planning to invest in a green home?

Purshottam: Homebuyers realise the importance of necessities such as air, water and waste management during the use phase. These are an integral part of living and it is becoming intensely difficult to get the ecosystem services due to climate risks and pollution. It is then that conscious citizens start working towards solutions such as solar, rain-water harvesting, composting, water or sewage treatment that needs retrofitting. Moreover, many homes do not have mindful design and homeowners end up having to deal with inadequate ventilation and light. Green-certified homes take these pains away and not only through design. The later certification (GRIHA) delves into the construction process, including the social wellbeing of customers.

The intangible benefits of green homes have larger eco-systemic benefits. One needs to be aware that the building sector is most energy intensive and has environmental and social costs. Air pollution, waste and water pollution are a result of badly designed buildings and poor construction practices. Poor sourcing of energy-intensive materials results in a value chain which is highly carbon intensive. Cities and the buildings therein need to be designed more mindfully, through careful sourcing that do not come at the cost of human health and wellbeing. We see a rise of awareness amongst citizens in this regard. Green homes, therefore, are for discerning, conscious citizens. It is time to make the shift.