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How to value sustainable/ environmental friendly developments

Introduction:

Center to urban developments, real estate is known to be consuming vast amount of physical resources. It is one of the major source of emission after automobile. As we speak about creating a sustainable future, real estate automatically holds a center stage. The staggering high percentage of carbon emission from real estate sector, along with other environmental impacts not only suggests us to opt for sustainable development but also demands us to value such developments.

 

Sustainability in the real estate sector:

Real estate industry has been conscious towards creating more sustanable spaces than before. In 90% of the decision making which happens in real estate, there is a thought of creating greener spaces. Environmentally Sustanable buildings are way to go. There are nearly 40-50% of the buildings which are green as compared to 1%-2% way back in 2005. The percentage of newly build green structures is rising by 5 % by the year 2020. There are numerous rules and regulations which are imposed on builders to help make the real estate greener day by day.

 

How to value sustainable structures:

Many organizations work towards bringing in better practices for new structures and also to make the existing structure better in terms of sustainability. The policies and procedures which companies follow mostly help them adhere to environment friendly practices. Companies device these strategies keeping some green building certifying bodies in mind. In most cases the green building guideline template is available with such certifying agencies. A routemap to implemeting green building practices is given to the builder for creating a green structure. The structure is then certified based on the emissions and other factors.

 

Here are some steps in real estate sector sustainability value chain:

Design

  • Improving the overall construction process by using Building Information Management and 3D mapping techniques.

– Construction

  • Sustainable construction surely means having environmentally safe construction material for the work. Identifying construction material which is sustainable and working towards procuring it can be a very time consuming process. Building Information Management would be of much use in such cases. Using sustainable material is the major step towards creating future proof buildings.

– Buy, Sell or Rent

  • There are many factors which are interrelated in this step of a value chain.
    • Off Late smart asset optimization solutions like waste management, connected home, smart parking are possible due to internet of things.

– Manage

  • Efficiency of the material used for construction should also be taken into consideration
  • HVAC implementation and gauging the real time occupancy also helps to reduce emission.
  • Timely and appropriate inspections and predictive maintenance is the way to go for sustainable building management.

– Retrofit

  • Collaborative approach of the team helps to get appropriate efforts towards sustainability, this collaborative efforts need to be there right from the inception till handover.

– End of life

  • Reducing waste while demolition and reuse of material at the end of life of the structure is usually forgotten. But those two aspect make a structure environmentally sustainable throughout its life cycle.

 

 

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