Green Buildings, Sustainability and Value Premium

An Empirical Study of Pune

DOI

10.2991/ahsseh.k.220105.002How to use a DOI?

Keywords

Green buildings; Sustainability; Green facilities; Property value; Value premium

Abstract

The concept of green buildings is getting well entrenched into the construction of buildings in Indian cities. In fact, the notion of green buildings is built upon the concepts of sustainability, which include: the conservation of resources (reduce), the reuse of materials (reuse) and the recycling of materials (recycle). However, they are also linked to sustainability in terms of reduced impacts during the whole life cycle of buildings i.e., construction and occupation. Besides, they also contribute to reducing global greenhouse gas emissions while also promoting energy and resource conservation. Given these advantages, green buildings should offer good value proposition to their buyers in terms of the reduced costs during building construction and operation stages. Therefore, there tends to be a ‘value premium’ associated with such green buildings in the property market. This paper reports the existence of such ‘value premium’ associated with green buildings through an empirical study of Pune city. A questionnaire survey was done for a sample of green buildings located in Pune city and data analysis was done. It is found that the Green Buildings have better green facilities but do not have infrastructure advantages. The study findings reveal about 5% value premium associated with green buildings in Pune city in the form of higher property value, though it varies across areas

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Ramakrishna Nallathiga
AU  - Abhijeet Raipure
AU  - Prateek Ate
AU  - Ankit Singh
PY  - 2022
DA  - 2022/01/18
TI  - Green Buildings, Sustainability and Value Premium
BT  - Proceedings of the 2nd International Conference on Sustainability and Equity (ICSE-2021)
PB  - Atlantis Press
SP  - 14
EP  - 22
SN  - 2667-128X
UR  - https://doi.org/10.2991/ahsseh.k.220105.002
DO  - 10.2991/ahsseh.k.220105.002
ID  - Nallathiga2022
ER  -