As urban India battles soaring air pollution, Zerodha co-founder Nithin Kamath has sparked a radical debate: link property prices to air and water quality.
“Maybe a property price discount for the quality of air and water is the solution,” Kamath posted on X (formerly Twitter). He believes aligning economic incentives with environmental well-being could encourage collective action to combat pollution.
Kamath explained his reasoning: if property values were tied to environmental quality, people would have a stronger stake in improving their neighbourhoods. “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 wrote.
The proposal comes as India faces alarming pollution levels. Delhi’s Air Quality Index (AQI) stood at a hazardous 412 on Sunday, with Anand Vihar recording 473, which falls in the severe category. Neighbouring areas Noida and Ghaziabad also reported "very poor" air quality. The crisis isn’t limited to Delhi. Mumbai, Chennai, and Bengaluru are also grappling with worsening air quality.
The health impacts are dire. Fine particulate matter (PM2.5) can penetrate deep into the lungs, enter the bloodstream, and cause long-term damage. Emergency measures have been enforced, including halting construction and banning older diesel vehicles, but pollution levels remain dangerous.
The Supreme Court recently extended emergency restrictions under the Graded Response Action Plan (GRAP) Stage IV. Meanwhile, schools in Gurugram, Noida, and Faridabad have extended online classes due to hazardous air conditions. Physical classes will remain suspended on November 25 also.
Kamath argues linking property prices to environmental health could drive better urban planning and foster community efforts. “If economics accounted for this, maybe we would all figure this out,” he said, emphasising the need for a systemic approach rather than isolated solutions.
His idea challenges both policymakers and citizens to rethink urban living. It asks whether personal and collective responsibility could redefine how cities tackle pollution.
As Delhi and other cities remain shrouded in toxic air, Kamath’s vision points to a future where property values may be tied to cleaner skies and healthier surroundings—a provocative concept in a time of crisis.
