HDFC to Promote Green Buildings

HDFC Ltd, India’s premier housing finance company signed a Memorandum of Understanding (MOU) with the Indian Green Building Council (IGBC) to promote green buildings in the country. HDFC intends to work with IGBC to create awareness and promote financing of green buil

BY Realty Plus
Published - Saturday, 26 Dec, 2020

HDFC Ltd, India’s premier housing finance company signed a Memorandum of Understanding (MOU) with the Indian Green Building Council (IGBC) to promote green buildings in the country. HDFC intends to work with IGBC to create awareness and promote financing of green buildings in the country. Under the MOU, HDFC and IGBC will promote green housing by jointly organizing training and awareness programmes to facilitate capacity building across the country. Renu Sud Karnad, Managing Director, HDFC Ltd said, “We are witnessing a huge growth in the housing sector with the government’s focus on ’Housing for All by 2022’. With the lowest ever interest rates on home loans, stable property prices and concessions on stamp duty rates by some states, the demand for housing is likely to increase. As the sector is growing rapidly, preserving the environment is of utmost importance. We need more energy efficient, smart, green buildings. This MOU will enable us to promote more financing of green buildings in India. As stakeholders, we all have a role to play in reducing our carbon footprint and safeguarding the environment.” HDFC as of Dec, 23, 2020 has disbursed over 14,000 Cr worth retails loans to home buyers in 310 certified green building projects across the country. Further 75% of our lease rental discounting portfolio has green ratings. Government is also pushing green building movement in India by offering fast track environmental clearance for green building projects which are pre-certified/ provisionally certified by IGBC. Additional FAR (Floor Area Ratio) is also been given in some states to such projects ranging from 1-10% depending upon the rating of project. Property Tax rebate is also being given to property owners in few states based on the rating of the project.