Delhi greenest city for real estate in India; ranks 63rd globally: Report

Don't want to miss the best from Business Standard?

Delhi is the greenest city for real estate in India but ranks 63rd globally, according to a study by property consultant Knight Frank.

London, Shanghai, New York, Paris and Washington DC are the world's top five green cities for real estate.

"Globally ranked 63rd, Delhi is the greenest city for real estate in India. Followed by Chennai with a global rank of 224, Mumbai with a global rank of 240, Hyderabad with a global rank of 245, Bengaluru with a global rank of 259 and Pune with a global rank of 260," Knight Frank said in a statement.

In its research, the consultant measured 286 cities on a range of factors, such as well-developed public transport networks, urban green space, and a high number of green-rated buildings.

Knight Frank also stated that India is projected to receive cross border real estate investment of USD 2.5 billion in 2022.

US, UK, Germany, France, and the Netherlands are set to be the top destinations for cross border real estate investment in 2022.

Shishir Baijal, chairman and managing director of Knight Frank India, said: "A series of structural reforms in recent past has put the country's real estate sector on high trajectory attracting global attention."

He noted that the improving pandemic scenario in the country coupled with policy interventions to support growth in realty sector would help in attracting global capital.

"The country's commercial real estate sector has evinced strong global investor interest in segments led by office and warehouse. With best-in-class global participation on capital as well as development front, we expect that the volume and quality of product offerings will see a marked scale-up in near future," he added.