Parking Is Expensive But Not As Expensive As The Real Estate Space It Wastes

Sample this.

According to data released by the Ministry of Urban Development,  a person living in Bengaluru pays Rs 105 as parking charges, the highest in India. In comparison, if you live in Delhi, you pay Rs 90 as parking charge. In Mumbai and Chennai one pays Rs 76 and Rs 67 for parking respectively. While buying a car, thinking of the money you will be paying as parking charges happen to be the least of your concern. However, you would be bound to factor this in had you been living in, say, London. Topark in the British capital, you have to shell out as much as Rs 4,500 In New York, this amount is Rs 2,800. India is one of the cheapest Asian cities for parking. In Hong Kong, for instance, parking charges stand at nearly Rs 2,000.

It is worth mentioning here that authorities of major global cities use parking charges and congestion tax as tools to restrict private car ownership, a concept which has not been explored in India so far for various reasons. This does not seem to be the case in India. Despite parking being a major hassle in most urban areas due to lack of space and escalating costs, ownership of cars remains high.

This is one of the reasons why the unauthorised parking market is thriving in India. It's a cheaper but riskier alternative where you pay less but there is no guarantee regarding the safety of your vehicle. So much so that the Bombay High Court recently observed: "These days every family has two cars. This should be restricted to just one car per family. Unauthorised parking due to lack of space is a very serious problem in Mumbai, and is the cause of much traffic congestion. A large number of private vehicles enter the city every morning and leave in the evening, but they have no space for parking through the day.” Other Indian cities face a similar situation or worse.

This also leads to large swathes of land in prime locations kept vacant for parking. The same plot of land can be converted into a housing or commercial complex. 

Also read: Is Making Connaught Place A Pedestrian-Only Zone A Good Idea?

But, this is for the government to handle, right? For you, an average Indian, having a car is more of a necessity than an option. Your workplace is too far. You cannot rely on public transport to reach your destination on time. Even if you do, you would rather not get into a physical competition with so many others just to catch a bus. Even if you have to argue on a daily basis over parking, it is worth the effort, is it not? In the narrow lanes of Delhi, for example, one would often see heated arguments ensuing as owners of car struggle to park their automobile without getting it scratched. Even in housing societies, such occurrences are regular.  You might actually concede the fact that car parking issues are turning out to be a nightmare for you, too. And even if you do not mind them, you have no choice but to mind the traffic jams that have become a norm on the roads of your city. Your car was actually bought with an aim to speed you up, and not slow you down.

Also read

Why Restriction On Car Ownership Is An Option Indian Cities Must Explore

Are Car Ownership And Prosperity Correlated?