The development of green in properties will require a multi-stakeholder strategy that will combine strategic advice to the company and the involvement of local communities. The green building practices in India, and within the broader context of the Indian real estate industry, have been increasing in momentum but a well-organized framework that integrates the knowledge base of Green Consultancy services and the grassroots power of Eco-Squads has not been explored in detail yet. This article will conduct an in-depth literature review in an effort to critically analyze the views of the world and India in regards to green real estate, how green consultancies operate, the behavioral aspect of Eco-Squads, and the economic justification of sustainable practices.
The literature review summarizes more than 60 peer-reviewed articles and policy papers analyzing the overlap between professional sustainability consulting and regulatory frameworks and community-based environmental practices. Three key trends are identified in the review: (1) the growing reliance on global use of green consultancy to ensure compliance and value creation in relation to ESG, (2) the increased role of communal-based environmental behavior in achieving collective sustainability results, and (3) the growing evidence of a financial feasibility of green real estate ventures. Nevertheless, the gaps in literature continue to be associated with linking models of consultancy and bottom-up models of Eco-Squad, especially in the developing markets.
This paper suggests a conceptual framework that places Green Consultancy and Eco-Squads as complementary variables in the improvement of the real estate sustainability. The results provide a theoretical guidance to researchers and practical solutions to policy makers and city planners who want to inculcate sustainability both institutionally and community-wide..