Builders Should Go Green To Save Costs, Says A Study

News Posted - 2010-05-01

To reduce potential financial losses incurred due to climate change-induced disasters and increasing electricity and water costs, real estate developers in Southeast and South Asia should incorporate green building concepts, according to a study. The study, which is conducted by the World Resource Institute (WRI) and HSBC, assesses the financial risks faced by commercial buildings in Indonesia, India, Malaysia, the Philippines and Vietnam due to energy insecurity, water scarcity and climate change. "The environmental challenges and resource constraints these countries have been experiencing will intensify and may result in increased utility, operating and construction costs for building owners," said Ms Shally Venugopala, a researcher. "Incorporating green design and construction features can save real estate companies money, especially for energy use and can increase occupancy rates and even rent premiums," she added.

Source: 20 April 2010

All 2.5 Lakh Mill Workers May Not Get Shelter In Maharashtra

Maharashtra's public housing scheme that promised homes for 2.5 lakh mill workers in Girangaon will fall short of the mark because only 10,000 houses are ready so far. It may also not allot homes to genuine beneficiaries due to lack of reliable data that can show they were mill workers. Now, the state is looking at a cut-off date as the eligibility criteria to allot homes as a way out. The sub-committee has decided to ask mill workers' associations to freeze a date after 1982 as the cut-off date to reduce the number of eligible mill workers. After the date has been decided, the state will hold a lottery by October.

Source:18 April 2010 Hindustan Times

Commercial Realty Prices On Rise Again In Ahmedabad

Finally, commercial properties in Ahmedabad are coming out of the saturation period of the last two years. Though the prices of these properties are still on the lower side by around 10% in the city compared to the situation a couple of years back, experts believe that property prices may go up during the current fiscal. The capital value of commercial properties in the city has not reached the level of prices during the boom period - 2007 to 2008. The price range of office space on CG road was Rs3500-Rs3750 per square feet in 2009-10. It was Rs3500-Rs4500 per square feet in the year 2007-08. The case is similar in other commercial areas, such as Ashram Road and SG Road. The prices of commercial properties have increased by around 30% in the last financial year over the previous year.

Source: 22 April 2010 DNA