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This research examines the sustainability and scalability of green buildings and green finance as a driver of sustainable construction within India, supported by a detailed case study of Noida. In the context of accelerated urbanization and environmental challenges, the study mitigates definitional inconsistencies, barriers to adoption, and fewer financial mechanisms hindering the green building industry. With a sequential mixed-methods strategy, the research brings together qualitative interviews and perceptual mapping with quantitative Multi-Criteria Decision Analysis (MCDA). Data was collected from 68 stakeholders across developers, policymakers, financiers, academics, and occupants.
The outcomes of the first aim examine conceptual and institutional gaps within the definition of green buildings through comparison of certification systems (GRIHA, IGBC), showing broken regulatory landscapes. The second investigates awareness and use of green finance instruments—green bonds, tax credits, and green loans—revealing preference-use mismatches because of unfamiliarity, eligibility complexity, and institutional inertia. The third objective is to introduce Willingness to Stay (WTS) as a new demand-side measure to determine long-term user satisfaction, demonstrating that occupant health, energy savings, and indoor quality play a significant role in determining occupancy.
Findings highlight resource conservation as both a key driver and barrier, and financial limitations below commonly perceived levels, contrary to popular belief, ranked lower than regulatory and awareness-related issues. Results suggest that improved policy coordination, streamlined certification processes, and capacity-building in green finance can significantly enhance adoption. This research contributes to theory by operationalizing WTS as a behavioral measure within sustainability transitions and stakeholder frameworks, offering actionable insights for policy, finance, and infrastructure development.
Keywords: Green buildings, green finance, India, Sustainability, Willingness to Stay (WTS), MCDA, Policy, Urban planning, Certification systems, Stakeholder analysis.
