ADVERTISEMENT
ADVERTISEMENT
South Asian realtors spotlight sustainability at Chicago gathering
In the current times, the realtors agreed that sustainability is increasingly becoming a financial and strategic priority rather than a purely ethical consideration.
-
1759953093.png)
Staff Reporter - Wed, 29, Apr 2026
- 13:40 EDT
- 33
South Asian real estate leaders spotlight sustainability at Chicago industry gathering / Asian Media USA
Sustainability and long-term value creation took center stage as South Asian real estate leaders gathered in the Chicago area for a high-profile industry event hosted by the Association of South Asian Real Estate Professionals (ASARP) in collaboration with Hawthorne World Group.
Held in April 2026 at the Waterford Banquet & Conference Center in Elmhurst, the event brought together real estate professionals, investors, brokers, and community leaders to discuss the growing role of sustainable development in shaping the future of the industry.
The evening, hosted by Anjali Mohanty, a Chicago-area real estate professional with American Star Realty, opened with networking sessions, setting the tone for conversations around how sustainability is increasingly becoming a financial and strategic priority rather than a purely ethical consideration.
ASARP vice chair Shirin Marvi, in her opening remarks, described the organization as a platform for collective growth and leadership within the South Asian real estate community. “When our professionals grow, our communities thrive,” she said, highlighting ASARP’s vision to become a leading resource hub across North America.
A key theme throughout the event was the shift in market expectations, particularly in the wake of evolving tenant preferences and regulatory pressures. Nick Verma, founder of Midwest Realty & Brokerage, emphasized that energy-efficient and ESG-compliant buildings are now directly linked to stronger tenant demand, better financing options, and higher asset valuations.
“The real question is not whether we should invest in sustainability, but what is the cost if we don’t,” Verma said, pointing to rising risks for properties that fail to adapt.
Financial and investment perspectives were also addressed, with Anil Punjwani of U.S. Bank outlining lending opportunities for real estate growth, and Pradeep B. Shukla, managing broker at American Star Realty, discussing tax strategies such as cost segregation, bonus depreciation, and 1031 exchanges to maximize returns and support long-term wealth creation.
The highlight of the evening was a keynote by Dr. Ganesan Visvabharathy, founder and chairman of Hawthorne World Corporation, who presented a vision of sustainable real estate as both an environmental and economic imperative.
Drawing from more than four decades of experience, Visvabharathy detailed approaches to net-zero development, including the use of geothermal systems, solar energy, and environmentally conscious materials. He framed these efforts as part of a broader “Fourth Wave” of sustainable investing, backed by increasing global capital flows into ESG-focused assets.
Among the projects highlighted was the redevelopment of the Coco Palms Resort in Kauai, Hawaii, envisioned as a fully sustainable, carbon-neutral resort, as well as a large-scale net-zero multifamily eco-community planned in DuPage County, Illinois.
Visvabharathy emphasized that sustainability is no longer optional in modern real estate. “If I can’t make a difference in people’s lives, why am I in this business?” he said.
The event concluded with a networking dinner and closing remarks, reinforcing the role of industry forums in fostering collaboration and knowledge-sharing.
Organizers said the gathering reflects a broader shift within the South Asian real estate community toward leadership in sustainable development, as professionals align financial goals with environmental responsibility.
Suresh Bodiwala, chairman of Asian Media USA, described the moment as a turning point for the industry. “The Fourth Wave of sustainable real estate is here, and events like this show that profitability and planetary stewardship are not opposing forces but powerful allies,” he said.
Discover more at New India Abroad.
Related
ADVERTISEMENT
ADVERTISEMENT
E Paper
Video
Comments
Start the conversation
Become a member of New India Abroad to start commenting.
Sign Up Now
Already have an account? Login