“Water crisis in India is not due to lack of water but primarily because of mismanagement of water resources”
Water stands as an indispensable resource that sustains every living entity inhabiting our planet. However, the mismanagement of water resources has become a pressing issue, leading to profound costs that ripple through our economies and environment. Gradually, as water misapplication intensifies over time, the consequences extend far beyond our immediate surroundings, laying emphasis on the interconnected web of repercussions that affect industries, communities, and ecosystems.
During a recent international meeting on water and sanitation, Hardeep Singh Puri, Union Minister for Housing and Urban Affairs and Petroleum and Natural Gas said, “Water crisis in India is not due to lack of water but primarily because of mismanagement of water resources.” Water mismanagement occurs in various ways, including inefficient distribution systems, lack of infrastructure, and unsustainable consumption patterns. One such example is Pune, reeling under acute water shortage. Various areas such as Pimpri-Chinchwad, Hadapsar, and Kharadi, have been facing water scarcity and the city has decided to suspend water supply once a week to avert this crisis — serving as a stark reminder of the impact associated with water mismanagement.
The pressing concern has severe consequences for both — the economy and the environment, further reverberating across various sectors. Industries heavily rely on water, such as real estate which suffers the most as water scarcity and mismanagement can have a direct impact on property values and investment potential. Areas with chronic water shortages or unreliable water supply may face reduced demand for real estate, leading to a decline in property prices. Additionally, commercial buildings, residential complexes and townships lean on water for various purposes such as sanitation, landscaping, and modern amenities. Inefficient water management practices within these properties can lead to increased operating costs, impacting profitability for property owners and investors.
Environmental repercussions stemming from water mismanagement are equally alarming. Inefficient water management practices within residential buildings, leaky plumbing systems, and lack of water-saving technologies, lead to water wastage and environmental degradation. This not only raises sustainability concerns but also has direct implications for the real estate sector. In an era where sustainability is increasingly prioritised, properties that embrace sustainable water management practices are more likely to attract buyers and investors, thereby commanding higher market value.
To address these challenges, it is imperative to adopt proactive measures to ensure efficient and sustainable water management. The integration of Internet of Things (IoT) technologies, AI (Artificial Intelligence), and ML (Machine learning) within the assets of real estate can revolutionise water management by enabling real-time monitoring and smart water control systems. IoT devices can detect potential water leaks and anomalies in consumption patterns, allowing prompt repairs and preventing significant water losses. Additionally, PropTech companies are increasingly using smart meters and sensors to facilitate accurate water usage monitoring, enabling individuals and communities to track their consumption, generate data to help them analyse, make informed decisions around water usage, and optimise the activities and manpower involved in managing water systems. For instance, ‘Planet SIM’ is one of the Smart Infrastructure Management apps used across multiple societies in Pune for water management. The app managed more than 100M liters just in the month of June this year, with its customers witnessing substantial water savings of up to 25%, in some cases with reductions up to 5 to 6 lakh liters of water per month, and reducing the manpower needed by 60%.
To further address water management, regulations now mandate the installation of rainwater harvesting systems and greywater recycling systems. These systems enable the reuse of wastewater for non-potable purposes like cleaning and flushing. Everyone can contribute to water efficiency by adopting water-saving smart appliances, such as leak detectors, washing machines, and dishwashers. These measures not only reduce water consumption but also enable savings on water bills.
Real estate developers and investors are also increasingly prioritising the ESG (Environmental, Social, and Governance) criteria while investing in new projects. This approach emphasises sustainable building practices, energy efficiency, lower carbon footprint, and responsible governance within the sector. By embracing ESG principles, responsible developers aim to contribute to a greener future and create environmentally conscious properties.
Managing Director India
Planet Smart City
Furthermore, raising awareness about the importance of water conservation is also crucial. Governments and local authorities should invest in infrastructure development, including the construction of reservoirs, water treatment plants, and distribution networks, to ensure adequate water supply to growing populations.
In conclusion, the hidden costs of water mismanagement are substantial, encompassing both economic and environmental repercussions. By adopting proactive measures, such as leveraging IoT technologies and implementing efficient water management practices, we can mitigate its negative impact. Furthermore, it is imperative for governments, communities, and individuals to work together to ensure sustainable water use and preserve this valuable resource for generations to come.
