Real estate and Environment

Real estate can be valued or devalued based on the amount of environmental degradation that has occurred. Environmental degradation can cause extreme health and safety risks. There is a growing demand for the use of site assessments (ESAs) when valuing a property for both private and commercial real estate.

Environmental surveying is made possible by environmental surveyors who examine the environmental factors present within the development of real estate as well as the impacts that development and real estate has on the environment.

Green development is a concept that has grown since the 1970s with the environmental movement and the World Commission on Environment and Development. Green development examines social and environmental impacts with real estate and building. There are 3 areas of focus, being the environmental responsiveness, resource efficiency, and the sensitivity of cultural and societal aspects. Examples of Green development are green infrastructure, LEED, conservation development, and sustainability developments.

Nikhil Pattani, a Mumbai based real estate expert, blogger at 'Realty Discovered' and Founder of 'Destiniva Realty' while sharing his views on green development said, "With excellent economical growth in India, we face environmental degradation. India has already recognised the threat over sustainable development growth and has carved superb policies of restoring the natural resources and maximising the use of land used for any development. The core ideas accepted and implemented are, Rainwater harvesting system, Sewage treatment plants, usage of solar energy. This gave birth to a new industry along with its contribution not only the eco- friendly environment, but also the economic growth of India."

Real estate in itself has been measured as a contributing factor to the rise in green house gases. According to the International Energy Agency, real estate in 2019 was responsible for 39 percent of total emissions worldwide and 11 percent of those emissions were due to the manufacturing of materials used in buildings.

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