Corporate India is experiencing an unprecedented surge in pre-leasing activity for premium carbon-neutral office spaces as demand significantly outpaces supply. 2024 has already seen a record 89 million square feet leased across India's top eight cities.

The most Indian Green Building Council (IGBC)-registered projects are in Maharashtra, followed by Uttar Pradesh and Gujarat. Over 7,000 IGBC-certified projects encompass 1,370 million square feet of built-up area in India, demonstrating its dedication to sustainability.

SEBI's obligatory sustainability reporting has expedited green building uptake by occupiers, investors, and developers. This legislative focus is changing India's real estate environment, especially green-certified office leasing.

Due to decarbonisation ambitions, more Indian enterprises are prioritising eco-friendly commercial real estate. Green office space demand is outpacing supply in India's key property markets, signalling a new age of corporate environmental conscience.

A CBRE-CII research, ‘Indian Real Estate: Taking Giant Strides – 2023 Mid-Year Outlook,’ was released during the CII Realty 2023 conference. It highlights the sector's tremendous progress.

Sustainability is becoming a key criteria in most Indian office property transactions, whether for purchase or leasing.

The development of green buildings should be promoted across the country and a campaign should be run to create awareness that difference in construction costs for such properties and conventional ones is marginal, a senior government official said on Thursday.