Tata Housing commits to 20 million square feet of LEED and WELL space
Back in June, USGBC and GBCI announced a strategic partnership with Tata Housing, one of India’s fastest-growing real estate development companies. The partnership is designed to jump-start the availability of LEED- and WELL-certified homes throughout India, and Tata has committed to certifying 20 million square feet of residential space to the LEED green building program and the WELL building standard.
With the profound changes happening in the lifestyles and income levels of people in India, the wellness industry has become a sunrise sector, and it is set to grow by 20 to 30 percent year on year. In a survey conducted by Tata Housing across metro areas in 2014, the company indicated that consumers, especially millennials, prefer wellness-featured homes that assure only the highest standards of quality, pure air and water and a healthy atmosphere in which they can thrive.
In a world where climate change is causing a deterioration in the quality of the human lifestyle, residential projects with a low carbon footprint and wellness features are attractive to buyers. Features that a globally aware buyer wants are rarely provided in residential projects; however, results from the survey implied a latent demand for these features.
The agreement was announced at a press event at Tata Housing Headquarters in Mumbai last month.