Green Office Inventory to Reach ~ 700 Million Sq Ft in Next 2-3 Years: CREDAI-Colliers

The role of the real estate sector is particularly vital in embracing sustainability across the value chain, amid rising environmental awareness, stricter regulations, and the accelerating pace of green building adoption in the country. Overall, the green building footprint across asset classes has nearly doubled over the last five years, reaching 13 billion sq ft in 2024. As of 2024, more than 2 million residential dwelling units, 6,500 commercial projects, and 750 industrial projects were green-certified. Sustainability adoption is expected to gain further momentum across real estate segments in the coming years. According to the CREDAI-Colliers report titled “Sustainability in Real Estate: Towards a Greener Skyline”, as of 2024, green-certified office stock in India stood at approximately 503 million sq ft, representing 66% of the total Grade A inventory across the top six cities. Additionally, with the majority of upcoming commercial developments expected to be sustainable from the outset, green-certified Grade A stock in the country could reach close to 700 million sq ft over the next 2–3 years.

In the residential segment, heightened green building adoption is reflected in over 2 million green-certified homes and 60+ certified townships (as of 2024). Sustainable homes typically offer tangible benefits such as lower utility bills, improved air quality, and rental premiums of 5–10%. Green adoption is also gaining ground in the industrial, healthcare, retail, hospitality, and data center segments. Developers and occupiers are increasingly opting for sustainable, energy-efficient buildings to align with climate targets and net-zero commitments.

“Green-certified buildings are not only a sustainable choice, but they also make a strong business case. As per our analysis, average occupancy levels in Grade A green office buildings were between 80–90%, compared to 65–85% in non-green-certified buildings. This is a pivotal moment to scale green adoption not just in commercial spaces but across residential, industrial, and emerging sectors like data centers. Our collective efforts today will shape the urban future of tomorrow, where environmental responsibility and economic growth reinforce each other,” said Shekhar G. Patel, President, CREDAI.