HDFC signs MOU with IGBC to promote green buildings in the country

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.

Under the MOU, HDFC and IGBC will promote green housing by jointly organising training and awareness programmes to facilitate capacity building across the country.

Amrit Abhijat, Joint Secretary, Ministry of Housing & Urban Affairs, said, “It is a unique initiative to promote green buildings which is the need of the hour and I am glad to know that a financial institution like HDFC has devised specific policies to promote green buildings.”

Speaking on the occasion, SK Hota, Managing Director, NHB, emphasised the need for promoting and popularising green labelled housing amongst the low and middle income segments. He also stressed on making adequate green labelled affordable housing stock available as an option to home buyers in all marketing platforms.

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.”

V Suresh, Chairman, IGBC, said, “NHB and HDFC’s service to the nation in supporting development of building habitats of all forms is unparalleled, especially in housing sector. IGBC is committed to contribute in the sustainable development of built environment in the country. The contribution of financial Institutions like NHB, HDFC in this green journey has been phenomenal. Today’s formal engagement with HDFC will help advance the National green building movement.”

Ravi Aggarwal, Co-Founder and Group Managing Director, Signature Global, said, “All buildings in India should have green components. Developing green buildings in the country is important as pollution is on the rise here. Encouraging more and more developers to go for green building concept is the need of the hour. The Government should incentivize developers by offering 10 pc FAR instead of 5 pc in IGBC Gold-rated projects.”