Green building is not only environmental friendly but also offers you lower rate on your home loan. Home buyers are very happy with cut down in stamp duty, rate of interest and now here is another reason. Banks such as State Bank of India are offering lower loan rate for green building.
There is an increase in demand for green building and SBI encourage this by attracting buyers with special rate for green building. Normally SBI charges 8 to 9.25% for normal home loan and rate is 0.10% or 10 basis points lesser for green building comparing to other.
According to Indian Green Building Council (IGBC), green building is construction that consumes less energy, water and natural resources. When comparing to ordinary building, green building consumes less energy, creates less waste and healthy for people and environment. Indian Green Building Council (IGBC) is a part of CII-Godrej Green Business Centre, which is actively involved in promoting the Green Building movement in India. It is represented by all stakeholders of construction industry.
In future more banks will come with innovative ideas to save environment and directly or indirectly encourage buyers to construct green building. Celebration of environmental day and conducting awareness program has played vital role in educating common man on need and importance of green living or environmental friendly life.
Tags: Apartment India, Bangalore, green building, Home Loans, indian real estate, market trend, property, Tips
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