Mindspace REIT secures IGBC
Green Landscape Gold rating for Airoli East
October 01, 2026
Mindspace Business Parks REIT has
received the IGBC Green Landscape Gold Rating from the Indian Green Building
Council for its Mindspace Airoli East business park
in Navi Mumbai. This achievement makes it the first Real Estate Investment
Trust in India to receive this specific distinction.
The certification recognizes the
integration of green spaces within the business park as a critical component of
the overall ecosystem. Unlike traditional certifications that focus primarily
on building energy and water efficiency, the IGBC Green Landscape Rating
evaluates the design, management, and ecological performance of landscaped
areas, including flora, fauna, and resource efficiency.
Sustainability metrics at
Mindspace Airoli East
The campus implemented several
initiatives to achieve the Gold rating, focusing on
biodiversity and resource conservation. Key features include:
Over 60% native and adaptive
green cover to support local biodiversity
Over 30% vegetation specifically
supporting local birds and insects
Up to 77% energy savings achieved
through smart landscape lighting
100% on-site composting of
landscape waste
Additional innovative practices
deployed at the site include a native plant nursery, stingless honeybee
colonies, a butterfly garden, and plant bio-sonification installations. The
campus also provides dedicated spaces for walking, sports, yoga, and meditation.
Strategic implications for
portfolio
Ramesh Nair, MD & CEO of
Mindspace REIT, stated that sustainability extends beyond buildings to the
broader ecosystem across campuses. He emphasized that this approach is central
to designing, differentiating, and delivering value to occupiers and investors.
S. Karthikeyan, Executive Director at IGBC, noted that the rating reflects a
thoughtful approach to enhancing biodiversity and responsible landscape
management.
What the numbers show
The certification highlights a
shift in commercial real estate sustainability standards. While most green
certifications prioritize operational efficiency metrics like energy
consumption, this rating validates the ecological value of the asset's external
environment. The data indicates that over 60% of the green cover is native or
adaptive, directly linking landscape design to local biodiversity support
rather than just aesthetic maintenance.
Mindspace REIT plans to extend similar landscape and biodiversity practices to other campuses in its portfolio. This initiative complements its ongoing program of LEED and IGBC building certifications. The REIT’s portfolio comprises 46.2 msf of total leasable area, with most buildings already holding Gold or Platinum Green Building Certifications.
Historical Stock Returns for
Mindspace Business Parks REIT
|
1 Day |
5 Days |
1 Month |
6 Months |
1 Year |
5 Years |
|
-1.21% |
-1.74% |
-3.70% |
+3.40% |
+3.87% |
+51.40% |