August 21, 2015
https://www.facebook.com/mehtarahulc/posts/10152987504911922
The next civil war in India will be on parking issue
.
Ok, that was a gross gross exaggeration.
.
The parking mess is because many car owners are saying --- they want land for free !! And they want construction for free !!
.
Constructing multi-story parking lot is Rs 2500 sqft = Rs 25000 sqmt , plus cost of land !!! It is 5 times the cost of a housing flat , because the strength of whole structure has to be several times that of a flat.
.
And car will take some 400 sqft !!! Why? Because a lot of space has to be left for gap beteween two car, two car rows and ramps.
.
So 400 sqft * Rs 2500 per sqft = Rs 10,00,000 = Rs 10 lakh per car space !! PLUS cost of land !!!
.
Say investor wants 20% return on cost including interests on loans = Rs 2 lakh per year
.
Now a year has 365 * 24 hours and a slot will be occupied only for some 25% of time AT MOST (night time, weekends, holidays can be slow days). So thats is about 2200 hours.
.
So charge per hour = Rs 200,000 / 2200 = Rs 90 per hour !!!
.
Plus add staff salary, electricity bill etc and we have Rs 100 per hour !!!
.
Most car owners want to pay no more than Rs 5 per hour. Some very geneous car owners might want to pay Rs 20 per hour !!!
.
So multi story car parking lots are non starters in India as of now.
.
Those who want parking for free should understand that they asking for land and construction for free and thats isnt possible. If they were owning land, would they allow people to park for free? NO. If they were owning multistory parking lot , would they allow people to park for free? NO. .
.
Solution I propose is --- Municipalities should start charing for paking on roads at Rs 20 per car per hour and increase the rate 5% every month till there is vacant space in rush hour and then decrease the rate so that there is no vacant space. The charge should be different for different hours and days. The price should be mentioned WEEKS beforehand , but should vary.
.
And 50% money collected minus costs should divided equally amongst citizens and remaining should be used to widen / improve roads.
.
This will increase demand for PRIVATE car-paking lots.
.
And this will reduce parking mess.
https://www.facebook.com/mehtarahulc/posts/10152987504911922
The next civil war in India will be on parking issue
.
Ok, that was a gross gross exaggeration.
.
The parking mess is because many car owners are saying --- they want land for free !! And they want construction for free !!
.
Constructing multi-story parking lot is Rs 2500 sqft = Rs 25000 sqmt , plus cost of land !!! It is 5 times the cost of a housing flat , because the strength of whole structure has to be several times that of a flat.
.
And car will take some 400 sqft !!! Why? Because a lot of space has to be left for gap beteween two car, two car rows and ramps.
.
So 400 sqft * Rs 2500 per sqft = Rs 10,00,000 = Rs 10 lakh per car space !! PLUS cost of land !!!
.
Say investor wants 20% return on cost including interests on loans = Rs 2 lakh per year
.
Now a year has 365 * 24 hours and a slot will be occupied only for some 25% of time AT MOST (night time, weekends, holidays can be slow days). So thats is about 2200 hours.
.
So charge per hour = Rs 200,000 / 2200 = Rs 90 per hour !!!
.
Plus add staff salary, electricity bill etc and we have Rs 100 per hour !!!
.
Most car owners want to pay no more than Rs 5 per hour. Some very geneous car owners might want to pay Rs 20 per hour !!!
.
So multi story car parking lots are non starters in India as of now.
.
Those who want parking for free should understand that they asking for land and construction for free and thats isnt possible. If they were owning land, would they allow people to park for free? NO. If they were owning multistory parking lot , would they allow people to park for free? NO. .
.
Solution I propose is --- Municipalities should start charing for paking on roads at Rs 20 per car per hour and increase the rate 5% every month till there is vacant space in rush hour and then decrease the rate so that there is no vacant space. The charge should be different for different hours and days. The price should be mentioned WEEKS beforehand , but should vary.
.
And 50% money collected minus costs should divided equally amongst citizens and remaining should be used to widen / improve roads.
.
This will increase demand for PRIVATE car-paking lots.
.
And this will reduce parking mess.
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