Ingenious way of getting good returns

Ingenious way of getting good returns
Deccan Herald

To what extent will a Bangalorean go to get a parking space? From the looks of it, the whole nine yards, as they are willing to shell out as much as Rs 3,000 a month to get a reserved parking space near their working place.

But this parking facility, hailed as a panacea by the well-heeled Bangaloreans and also the police, is not being provided by the State government or by the civic authorities, instead by a breed of ‘accomodating’ land-owning residents. Even the front yard of the house, is leased out by this enterprising lot.

Paying the price

The ones who have a vacant plot in strategic commercial hubs like Brunton Road, St Mark’s Road, Lalbagh Road and Koramangala are game for throwing open their doors to help Bangaloreans. But it comes with a hefty price.

In return for parking fee for the space provided- Rs 5 for hourly two-wheeler parking, Rs 20 for hourly four-wheeler parking and Rs 100 for day-long parking-the customer is not only spared the effort of going around in circles to find a parking space every morning, but the fear of theft or damage to vehicles is also tucked away.

A watchman for your vehicle at all times, is part of the deal.

Various software companies have signed contracts which will enable more than 30 employees to park their vehicles.

In Brunton Road two vacant sites have been converted into parking lots.

According to Narayan, a parking lot attendant of a vacant site on Brunton Road, the land-owners get a minimum of Rs 2,500 a day.

“During morning hours, the parking lot is filled as many come here as they find it very difficult to get parking space on M G Road,” he explained.

While a parking lot on St Marks Road can accommodate more than 70 cars, another in Koramangala called ‘Sunshine complex’ can accomodate more than 200 cars.

Shopping malls too

Shopping malls like The Forum in Koramangala too have availed of this facility.

According to the Manager of Forum Mr Neeraj Duggal, they use the facility during weekends due to more crowds.

Said another parking attendant, “ The charges are slightly lower, if the car is parked from night to morning. But all our customers are just relieved to find parking space rather than being bothered by the cost,” he explained.



‘TRAFFIC PROBLEM EASED’

Residents, who own land at strategic places and are willing to allot space for parking, are doing a brilliant job in easing traffic congestion. “Even if it comes with a price, there should be more number of people willing to allot space for parking,” Deputy Commissioner of Police Traffic (East) M A Saleem told Deccan Herald.

Echoing his views, Mr P K Sreehari, Engineer-in-Chief (in-charge), BMP, said, “Such arrangements should be welcomed. More people should be encouraged to let out their land for parking.”

Asked if property owners are paying additional tax for converting their residential place to commercial one by renting out the place, he said, “The tax rate difference between residential and commercial place is just five per cent. So, it doesn’t matter much, I think”, he added.

However, he added that revenue officers concerned would take note of it.