When the Ministry of Environment and Forests offers fast track clearance to projects pre-certified by Indian Green Building Council (IGBC), an arm of CII, the Department of Industrial Policy and Promotion of the Ministry of Commerce and Industry under its “Make in India” offers an incentive of Rs 2 lakh to IGBC gold/platinum rated buildings.
Several State governments, notably Punjab, Rajasthan, West Bengal and Uttar Pradesh, Greater NOIDA Development Authority and Pune Municipal Corporation are offering incentives, particularly relaxation in floor area ratio (FAR), according to K. Leela Prasad, Co-Chairman of IGBC Visakhapatnam Chapter.
The AP government is offering a 25 % subsidy on total fixed capital investment of the project for buildings obtaining green rating in MSME and large industries. The incentive announced pertains only to industrial buildings.