The largest pureplay HDFC mortgage player, which signed a pact with the Indian Green Building Council (IGBC) on Wednesday, said its retail loan portfolio for green housing broke the Rs 14,000 crore mark in 310 certified ecological buildings.
The mortgage lender further said that up to 75 percent of its rental rental discount portfolio had green ratings.
As of December 23, 2020, we have disbursed over 14,000 crore in retail loans to homebuyers in 310 certified green building projects, HDFC said during a webinar announcing the partnership with IGBC to promote green housing and raise awareness and promote the financing of green buildings.
Addressing the assembly, Amrit Abhijat, co-secretary of the Union’s Ministry of Housing and Urban Development, said he was convinced that the initiative, along with specifically designed lending policies, would go a long way in promoting ecological housing.
SK Hota, CEO of NHB, stressed the need to promote and popularize green housing among low and middle income segments and called for creating sufficient stocks of affordable green housing.
Renu Sud Karnad, managing director of HDFC, said the lender is seeing huge growth in the housing sector thanks to historically lowest interest rates, stable house prices and lower stamp duties.
The government, for its part, encourages green construction by offering accelerated environmental authorization to green projects pre-certified / provisionally certified by the IGBC.
Apart from that, some states have also allowed additional FAR (ratio of floor space) to green housing projects at a rate of 1-10% depending on the project’s green rating. A property tax rebate is also granted in a few states based on the green rating.
Today, IGBC has more than 7 billion square feet of green building footprint, spread across various geographies across the country, up from 20,000 square feet in 2003, two years after the council was formed. It offers 25 different assessment programs to suit various types of buildings.