The Real Estate sector in India is changing the way people view towering skyscrapers and the evolving urban landscape. The industry, which was once all about building higher, is now about building smarter and greener. The vision of developing smart cities, with ecological preservation at their core, is becoming a reality through the adoption of sustainable construction practices. As per the projections of the 'World Green Building Council', India will have over 10 billion sq. ft. of green certified space by the year 2025. This transformation is crucial, as Real Estate contributes 13% to the nation's GDP. The adoption of sustainable practices in this sector will not only encourage environmentally responsible development but also drive long-term economic growth. This transition in the real estate industry has introduced new legal concerns, accompanied by additional regulatory frameworks and heightened compliance responsibilities. Real estate firms must now take these new legislations into account while handling matters, whether it involves drafting, reviewing, or conducting legal research. To avoid any kind of negligence and to ensure full compliance, platforms like LawSimpl are designed which take care of these compliances and ensure efficient workflow.
India’s Path to a Sustainable Real Estate Future
The idea of having an environmentally conscious real estate industry is coming to reality because of the legislative framework and regulatory measures that have been continuously introduced to boost the idea. The Indian legislative authorities are well aware of the concept of sustainable development and have been making continuous efforts to integrate this principle across all sectors. Several policies, statutes, rules, and regulations have been introduced to the real estate sector, such as:
In the year 2006, the Environmental Impact Assessment was introduced to promote and integrate environmental considerations into project planning, design, and approval processes alongside technical and economic factors. This policy was suggestive in nature, but in later stages, various states made it mandatory by including these suggestions in their state's bylaws and regulations.
One such framework is the Energy Conservation Building Code (ECBC), which was made under the Energy Conservation Act, 2001. The code prescribes the minimum energy-efficiency requirements for commercial buildings. ECBC helps buildings use less energy and save money. The typical compliant designs cut energy use by about 25%, while higher tiers can save up to 50%, lowering bills and making indoor spaces more comfortable.
The Real Estate Regulatory Authority (RERA), the central regulatory body for the real estate sector, mandates environmental clearance for the project before starting the construction. It ensures that developers comply with the regulations and maintain transparency.
One such initiative is the Three Certification System, which ensures that development and sustainability go hand in hand. These three green building certifications are the Indian Green Building Council (IGBC), Green Rating For Integrated Habitat Assessment (GRIHA) and Leadership in Energy and Environmental Design (LEED). These certifications evaluate buildings' environmental impact and sustainability by rating them. Although these are not mandatory until expressly stated by the governing body. These certifications are a way to determine the sustainable and 'green' nature of a building.
The government has proposed and enacted many such legislations to develop a real estate sector that moves forward with sustainable development at its core.
Challenges faced by real estate stakeholders holders
The Real Estate developers faced financial, regulatory, technical, and reporting hurdles when complying with green building and sustainability norms. Complying with these norms requires a higher investment and development cost to meet the criteria. As the cost of green materials and new technologies requires a huge capital. Apart from the investments, the legal costs of managing and avoiding any legal consequences have also increased.
If not managed smartly, the firms managing these real estate projects could land their clients in legal trouble or delayed approvals. The central and state governments are actively taking steps to promote green and sustainable construction practices. To achieve this, they are consistently launching policies, rules and regulations in the legal framework. It becomes very difficult to navigate every such policy or statute, and one such missed clause can land the client in legal trouble.
One such challenge that might arise is the seamless management of documents. As the number of documents that need to be managed has increased because of the introduction of green and sustainable practices, it can be a tiring task to manage such documents.
These shortcomings create a need of having a smart and efficient legal assistant who can help in the seamless and efficient completion of the work.
How LawSimpl addresses green building compliance
To manage higher legal liability and reputational risks, an assistant like LawSimpl is a need of the hour. LawSimpl can effectively reduce this burden and ensure a seamless management of work for the real estate firms in multiple ways.
It can assist in the efficient drafting of legal documents by ensuring the inclusion of all such environmentally responsible construction practices. The platform maintains a comprehensive repository of central and state-specific norms, enabling precise checks to ensure the appropriate incorporation of such provisions in the drafting process. This means real estate firms no longer have to manually track constantly changing sustainability regulations or worry about missing critical clauses in agreements.
LawSimpl streamlines the drafting and review workflow by automatically flagging compliance gaps, suggesting relevant clauses, and ensuring that every contract reflects both property laws and environmental obligations. By reducing errors, saving time, and enhancing regulatory adherence, LawSimpl empowers real estate firms to confidently manage projects, satisfy clients, and mitigate legal risks associated with green and sustainable construction practices. By leveraging LawSimpl, firms can confidently manage multiple projects, demonstrate due diligence to clients and investors, and focus on delivering sustainable real estate without being bogged down by the complexities of compliance.
It ensures the seamless management of documents and maintains the efficiency of work without putting the reputation of the firm at risk. The privacy policy of the platform ensures no use of its clients' legal and personal documents in any manner, making it absolutely safe to use.
Conclusion
As the real estate sector embraces sustainability, complying with green building norms and environmental regulations has become a crucial part of legal due diligence. Manual tracking of these evolving laws can be time-consuming, error-prone, and overwhelming for firms managing multiple projects. LawSimpl bridges this gap by providing a smart, AI-driven platform that integrates central and state-specific norms, recommends precise clauses, and ensures comprehensive compliance.
Without wasting any more time, use LawSimpl as a smart assistant to manage your work efficiently.
Try it now!