As air pollution grips urban India, a provocative idea from Zerodha co-founder Nithin Kamath has got the internet talking: what if property prices were tied to the quality of air and water?
“Maybe a property price discount for the quality of air and water is the solution,” Kamath wrote on X, arguing that aligning economic incentives with environmental quality could drive collective action.
Kamath’s logic is straightforward. If air and water quality directly impacted property values, homeowners would have a stronger stake in improving their surroundings.
“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.
This concept arrives at a time when India’s air quality crisis is impossible to ignore. Delhi, with an Air Quality Index (AQI) of 412, remains suffocated under a hazardous smog. Neighboring cities like Noida and Ghaziabad fare slightly better but still hover in the ‘very poor’ category, while Anand Vihar records an alarming AQI of 473.
The health risks are severe. Fine particulate matter (PM2.5) can penetrate lungs, enter the bloodstream, and cause long-term damage. Despite temporary measures like banning older diesel vehicles and halting construction projects, the situation remains grim. The Supreme Court, alarmed by the crisis, extended emergency restrictions under the Graded Response Action Plan (GRAP) Stage IV.
Kamath points out that while Delhi dominates headlines, other metros like Mumbai, Chennai, Kolkata, and Bengaluru also suffer from worsening air quality. The problem is systemic, not regional, and demands collective solutions.
Linking property prices to environmental health could incentivize better urban planning and community efforts, Kamath argues. “If economics accounted for this, maybe we would all figure this out.” His vision isn’t just about individual responsibility but about transforming ownership into collective care—a shift from private gains to public good.
As urban India grapples with its air crisis, Kamath’s proposal challenges policymakers and citizens alike to rethink how value—and responsibility—are assigned in our cities. Could the price of a cleaner tomorrow start with the cost of your home today?