ABSTRACT The presented study will majorly discuss about buyer's willingness to pay for green building. The study will find out general awareness level of the respondents (buyers) and make them aware about the cost v/s benefit ratio to get maximum profit from the initial investment. From the survey it will analyze what is the desire higher cost and expected return from the green features. The study will help developers to know, willingness to pay ratio, and acceptance of green buildings amongst buyers. This might lead to promote use of green building technology and proposal of new green buildings. The study to finalize green features consider for different sectors which will be based upon on existing green rating system in India like, IGBC LEED and GRIHA. It will be focusing on the commercial real estate sector of the Ahmedabad city. The key variants of the study will be the HVAC, lighting, which are main energy cost sector of any building. So the higher saving in the same will lead to lower pay back time. CONTENTS 1. Introduction 15 1.1 Background 15 1.2 Need of the Study 16 1.3 Aim 17 1.4 Research Objectives 17 1.5 Research Questions 17 1.6 Scope 17 1.7 Limitations 17 1.8 Methodology 18 1.9 Why Ahmedabad as study area? 19 2. About Green building 21 2.1 What is a Green Building? 21 2.2 Green building Revolution 22 2.3 Green building trend in India 24 2.4 Green real estate market 25 2.5 Tax, incentives and subsidies in India for green building 25 2.6 Policy environment 26 2.7 Energy Conservation Building Code 2007 26 2.8 Different ministry level regulations 26 2.9 BEE (Bureau of Energy Efficiency) and Energy labelling of appliances 28 2.10 City level regulations 28 2.11 Green building laws 28 2.12 Different Green building rating system in India 29 2.13 Green building and its salient features 32 2.14 Benefits of a green building 33 2.14.1 Environmental benefits 33 2.14.2 Economic benefits 34 2.14.3 Social benefits 34 2.15 Green building impact on environment 34 2.16 Components of the green building 35 2.17 Future trend of building sector 36 3. Commercial building and energy demand 39 3.1 Real estate market in India 39 3.2 Commercial building share in India 39 3.3 Real estate market of Ahmedabad 41 3.4 Commercial building share in Ahmedabad 42 3.5 Sector wise energy consumption in India 42 3.6 Energy demand in building 43 3.7 Energy benchmarking 44 3.8 Electricity consumption in Ahmedabad 46 3.9 Energy consumption in commercial building by different equipments 47 4. Willingness to pay 51 4.1 Willingness to pay 51 4.2 Factors for willingness to pay for green building 51 4.3 Investing in green building alternatives: investments and saving potential 52 4.4 Green building case studies 53 4.4.1 Microsoft building, Hyderabad 53 4.4.2 ITC green centre, Gurgaon 54 4.4.3 Sapath-V, Ahmedabad 55 4.4.4 Torrent research centre, Ahmedabad 55 4.4.5 Retreat: resource efficient TERI, Gurgaon 57 4.5 Cost associated with green buildings 58 4.6 Cost-benefit ratios from the case studies 59 4.7 Case analysis 60 5. Sample area selection and Questionnaire 63 5.1 Town planning scheme study for sample area selection 63 5.2 Data from the GIHED and Developers register with GIHED 64 5.3 Survey area selection 67 5.4 Selected area location 68 5.5 Sample size 68 5.6 Random Sample 69 5.7 Methodology for questionnaire preparation 69 5.8 Criteria for questionnaire preparation 70 5.9 Questionnaire 71 6. Survey analysis 75 6.1 Survey analysis factors 75 6.1.1 Awareness about Green building 75 6.1.2 Awareness about Green rating system 76 6.1.3 Education level and Green building awareness 78 6.1.4 Awareness about energy efficiency 79 6.1.5 Comparing electrical consumption with electricity standard 81 6.1.6 Electricity reduction expectation and initial higher cost bearing for reduction 83 6.1.7 Age and expected payback time period 85 6.1.8 Investment and return preference for respondents 87 6.1.9 Decision making features and their importance 88 6.1.10 Municipal tax benefits 90 6.1.11 Willingness to occupy green building 90 6.1.12 Willing to pay higher for green building 91 6.1.13 Cost v/s payback time 93 7. Conclusion and Recommendation 97 7.1 City level recommendation 97 7.2 Area specific recommendations 99 7.2.1 Kalupur 99 7.2.2 Ashram road 99 7.2.3 S.G.highway 100 7.2.4 Prahladnagar 100