IGBC and Punjab National Bank Partner to Accelerate Green Home Ownership in India
Hyderabad, June 27, 2026: The Indian Green Building Council (IGBC), part of the Confederation of Indian Industry (CII), and Punjab National Bank (PNB) have signed a strategic Memorandum of Understanding (MoU) to promote green home ownership across India by providing preferential financing for buyers of IGBC-certified residential projects, IGBC and PNB said in a press release.
The agreement establishes a structured framework for information exchange between IGBC and PNB, allowing eligible certified residential developments to be considered under PNB’s Harit Niwas Scheme. The initiative aims to enhance public awareness around sustainable housing while encouraging developers to adopt green building practices.
The residential segment continues to drive India’s green building movement. Under the IGBC Green Homes Rating System, the council has facilitated 4,298 registered green home projects covering over 4.68 billion square feet. The strategic partnership seeks to build on this momentum by making environmentally responsible homes more financially accessible to everyday buyers.
Firoz Hasnain, Chief General Manager, MSME & Retail Division, Punjab National Bank signed the MoU on behalf of Punjab National Bank, and said, “We are pleased to join hands with the Indian Green Building Council (IGBC) in a partnership that reinforces our shared commitment to sustainable and responsible growth. Through PNB Harit Niwas, we aim to make green housing more accessible and affordable by providing customers with enhanced financial advantages that improve affordability, ease the financing burden, and encourage the adoption of environmentally responsible homes. This collaboration represents a strategic partnership that creates shared value for both institutions—while IGBC advances the adoption of green building standards across the country, PNB empowers customers to embrace sustainable living through attractive financing support. Together, we aspire to accelerate the transition towards greener communities, create long-term value for homebuyers, and contribute meaningfully to India’s sustainability and climate goals.”
Under the terms of the agreement, IGBC will identify residential developments eligible for pre-certification and certification under the Harit Niwas Scheme, while PNB will provide targeted financing for developers and buyers. Both entities will also collaborate to explore innovative financing models, particularly for affordable housing initiatives under the IGBC Green Affordable Housing and IGBC Green Homes frameworks.
Anuj Kumar Agarwal, Chairman IGBC Green Banks & Finance, said, ” The collaboration between IGBC and Punjab National Bank marks a significant milestone in mainstreaming green homes in India. While customers increasingly recognize the environmental and health benefits of sustainable homes, financial incentives, enhanced eligibility provide an added reason to choose greener living. By linking IGBC green building certification with preferential financing, we are creating a win-win proposition for homebuyers, developers, financial institutions, and the environment alike. We believe this initiative will accelerate the adoption of IGBC-certified green residential projects and contribute meaningfully to India’s sustainability and climate goals.”
To support adoption, PNB’s Harit Niwas Scheme provides specific financial incentives for buyers in IGBC-certified projects. These benefits include a 0.10% concession on applicable home loan interest rates, complete waivers on processing fees and documentation charges, and up to a 5% increase in repayment eligibility.
Beyond lowering immediate borrowing costs, the initiative emphasizes the long-term economic gains of sustainable living, such as reduced lifecycle expenses through improved energy and water efficiency. By bridging institutional finance with green building certification, the partnership creates an enabling framework for developers and homebuyers while supporting India’s broader climate and sustainable development objectives.
