The Asian Development Bank (ADB) and IIFL Home Finance Ltd. (IIFL HFL) have successfully concluded their two-year Technical Assistance (TA) program.
The Technical Assistance (TA) program, a joint initiative by IIFL HFL and ADB, aims to enhance Resilient & Green Affordable Housing for the underserved sectors in India. The report, over the last year, with the experts and developers, showcases strategies and best practices for green housing. This comprehensive resource is intended to guide future sustainable housing projects. The research study can be viewed at - https://www.iiflhomeloans.com/adb-iifl-ta-program
The program is structured on three core pillars, Promotion & Propagation which focuses on strategically catalysing the adoption of sustainable housing practices, ensuring widespread awareness and implementation across the nation. Capacity Building, aiming to enhance the knowledge, skills, and capabilities of stakeholders, empowering them to effectively navigate the complexities of sustainable housing. Research & Innovation component delves into the green building ecosystem, exploring climate adaptation strategies and pioneering innovative solutions that can be scaled across the sector.
The technical assistance study highlights some of the key findings, such as the prioritization of natural ventilation, passive cooling, and green roofs among homeowners in various climatic zones. Despite a growing awareness of sustainable practices, broader implementation remains limited. With over 50% of India’s 2030 building stock still under construction, there is immense potential for sustainable development, especially in tier 2, 3 and 4 cities, which will play a pivotal role in reducing the carbon footprint within infra development.
The research conducted and adapted within the technical report interacted with 776 new homeowners and prospective buyers across suburban areas of tier 1, 2, and 3 cities, reporting a growing dissatisfaction with current accommodations, particularly due to inadequate clean water, poor ventilation, and a lack of eco-friendly amenities.
The research study, conducted across four climatic zones—hot, dry & composite, hot & dry, warm & humid, and composite differently captures varied views—reveals that while 73% of home buyers/owners have only heard about the sustainability and only 27% have in-
depth knowledge of the concept. This gap, coupled with high costs and limited availability, remains a significant barrier to adopting sustainable homes. Notably, 50% of respondents expressed dissatisfaction, with those in hot and dry regions being the most affected. Although sustainability is recognized for its benefits, only 6% of prospective buyers are willing to increase their budget for sustainable homes, highlighting cost as a primary concern.
The study emphasizes the need for continued education and incentivization to bridge the knowledge gap and encourage sustainable practices. It also underscores the potential of India’s green building market, expected to reach USD 35-50 billion in coming years, driven by increasing environmental consciousness and government initiatives. However, challenges persist, including poor sanitary conditions, primitive construction, and the high cost of energy-efficient systems.
A key focus in the program elaborates on improving the access to green affordable housing within the length and breadth of the country.
This women-led initiative from IIFL Home Finance and ADB, focuses on building knowledge and resources for affordable and green housing, marks a significant step forward in addressing both the housing and gender disparity in homeownership. The report is intended to be a cornerstone of knowledge, empowering stakeholders to create sustainable, inclusive housing solutions that fulfil the growing needs of India’s urbanizing population.
