In a groundbreaking suggestion, Zerodha co-founder Nithin Kamath has proposed linking property prices to air and water quality as a way to combat the rising pollution levels in India. Sharing his thoughts in a lengthy post on X (formerly Twitter), Kamath highlighted the urgent need for innovative solutions to tackle pollution, which has been a persistent and growing issue across Indian cities.
Kamath’s Radical Proposal
Kamath emphasized that air and water quality should influence the price of real estate. According to him, introducing a “property price discount” based on the quality of air and water in a region could encourage property owners and local communities to take pollution seriously and work toward sustainable solutions.
“You have to wonder what it will take for us to take air pollution more seriously,” Kamath wrote, sharing a newspaper clipping that reported alarming statistics about air pollution-related deaths in India. He pointed out that the data he shared covered only up to 2019 and that pollution levels have worsened significantly in the last five years.
Economic Incentives for a Cleaner Environment
Kamath explained that tying property prices to environmental factors could create a ripple effect, motivating individuals and communities to improve their local environment.
“For example, if I went from owning a property in JP Nagar and caring for it to caring for my layout in JP Nagar and then the whole of JP Nagar, it could have a better outcome,” he said. The billionaire suggested that such an economic model would make property owners more invested in the well-being of their neighborhoods, fostering collective efforts to combat pollution.
He also pointed out that while Delhi’s hazardous air often grabs headlines, air quality in cities like Bengaluru, Mumbai, Chennai, and Kolkata is also deteriorating rapidly. Kamath urged people to rethink the true worth of real estate, stating that “even spending crores of rupees on buying a luxury home can’t buy you real luxury if you’re breathing polluted air.”
Public Reaction and Support
Kamath’s proposal has garnered widespread attention on social media, with many users agreeing that economic incentives tied to environmental factors could push communities to take greater responsibility for pollution control.
One user commented, “The actual worth of real estate reduces when one realizes that they are actually breathing polluted air and reducing life span.” Another said, “The next startup that solves pollution problems will be the one to bet on.”
A Need for Urgent Action
Kamath’s suggestion comes at a time when air and water pollution in India are reaching critical levels. According to reports, air pollution is a leading cause of premature deaths in the country, and water quality in many areas remains a significant concern.
As conversations about sustainability and environmental responsibility grow louder, Kamath’s idea could serve as a much-needed catalyst for change. His proposal highlights the importance of aligning economic policies with environmental goals to create a healthier and more sustainable future for India.
It remains to be seen whether this concept gains traction among policymakers and industry leaders, but it has undoubtedly sparked an important dialogue on the intersection of economics and environmental well-being.
You have to wonder what it will take for us to take air pollution more seriously. By the way, this data only covers until 2019, and things have only gotten worse in the last five years.
Maybe a property price discount for the quality of air and water is the solution. If… pic.twitter.com/QtyzkqoG43
— Nithin Kamath (@Nithin0dha) November 24, 2024