The Kerala Government has decided to give incentives to green rated buildings to promote eco-friendly constructions. Appropriate incentives are given on the basis of various factors from the land selected for construction to its completion, as well as concessions on property tax and stamp duty. Accordingly, these buildings have been divided into four categories with residential buildings under 200 square meters and above 200 sq.m under first category. Apartments, industrial and commercial buildings, and other buildings comprise of the remaining categories.
Points are then awarded to the respective buildings for various factors based on the Green Rating Chart. As per the respective points earned, the buildings will be awarded Grade A or Grade B. Maximum incentives and concessions are given for Grade A buildings and only 50 per cent incentives for Grade B structures. Compared to conventional constructions, buildings that make good use of water and energy, conserve natural resources, produce less waste, and provide a healthier environment are referred to as green buildings. After considering each of these aspects, it will be decided as to how much incentives and concessions should be given.
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