The Green Rating of Colonies in Delhi is a novel and innovative project aimed at promoting market solutions to environmental problems through understanding market mechanisms and property rights. As a pilot study, the project will identify key residential colonies in different parts of Delhi and rate them on an Environmental Performance & Quality Index (EPQI). The EPQI which will be developed will encompass indicators like pollution status, water/ energy access, ground water level and availability etc. to bring forth the relationship between environment and property value. The index will be plotted/ mapped on a spatial database and will be made available through a web interface. The EPQI will be developed and implemented in such a manner that it will influence property rates and will have the potential to be up scaled as a business venture in the forever booming real estate sector.