Green homes to attract lower interest rates on home loans

Buyers of certified green and energy-efficient homes will get home loans at lower interest rates, with a memorandum of understanding for this being signed on Friday between the Indian Green Building Council (IGBC) and National Housing Bank (NHB).

The purpose of this MoU is to jointly enhance and promote the adoption of energy efficient and 'Green' homes concept in India .

"Going green is indeed an imperative to ensure a sustainable tomorrow. I hoped the MoU will go a long way in promoting green homes and facilitate India emerge as one of the global leaders in green buildings," said Arun Kumar Misra, secretary, ministry of housing and urban poverty alleviation.

The IGBC, a part of the Confederation of Indian Industry (CII), is involved in promoting the green building movement in India.

The council is represented by all stakeholders of construction industry comprising of corporate, government and nodal agencies, architects, product manufacturers and institutions.

Arnab Roy, executive director, NHB, hoped that the partnership will have excellent results in further enhancing green and energy efficient homes in the country.

"NHB with the support of IGBC would offer the fund to home finance companies that are willing to transfer the benefit of concessional interest to buyers of green and energy-efficient homes," said.