MoUs signed with NSDC and QCI; 200 mn sq ft of green-certified office space expected by 2027, says Credai–Colliers report

India’s leading real estate body, the Confederation of Real Estate Developers Association of India (CREDAI), has announced a renewed focus on sustainability, workforce skilling, and policy reform with the appointment of Shekhar G. Patel as its new President for the 2025–2027 term.

At its leadership transition ceremony, Credai signed Memorandums of Understanding (MoUs) with the National Skill Development Corporation (NSDC) and the Quality Council of India (QCI). The agreements aim to build a strong foundation for industry-aligned skill development, certification of construction workers, and structured employment opportunities in the real estate and construction sectors.

In his inaugural address, Patel unveiled a five-point agenda aimed at aligning Credai’s efforts with the national mission of Viksit Bharat. His priorities include large-scale skilling of workers, the launch of a real estate analytics centre to support data-driven governance, reforestation efforts beginning with the Western Ghats, redefining affordable housing through policy alignment, and streamlining approvals to enhance ease of doing business.

During the event, Credai also launched a detailed report in collaboration with Colliers titled “Sustainability in Real Estate: Towards a Greener Skyline.” The report highlights that 66% of India’s Grade A office stock is now green-certified, with cities like Hyderabad leading the way at 75% penetration. It forecasts that between 170 to 200 million sq ft of green-certified commercial supply will be added by 2027.

The report also points to a Rs 425+ billion opportunity for retrofitting older office spaces to meet sustainability standards. It credits rising ESG commitments, policy initiatives like the Energy Conservation Building Code (ECBC), and consumer demand for eco-friendly homes as key drivers of this green shift in Indian real estate.

Patel emphasized that sustainability must be treated as a core responsibility, not a trend. “Green buildings are no longer optional—they’re essential to our climate goals,” he said, reaffirming Credai’s commitment to building a future-ready, responsible sector.

Credai Chairman Boman Irani expressed confidence in the new leadership, stating that with Patel at the helm, the organization is well-positioned to drive innovation, reform, and sustainable growth while continuing to represent the interests of developers and homebuyers alike.