Choose your parking space wisely

Q: Parking is on of the most important space while buying a home or renting an apartment.

Sashidharan,

19th January 2016

Buying property in Mumbai

parking space

parking facility

parking charges

renting a flat

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Replies (3)

Hi all,
The developer will charge for the car parking based on the common areas defined. The limited common areas assigned to each unit include a patio garden, attic storage, a crawl space, an entrance area, and a driveway parking area, which are chargeable.

Even, the builder can charge you extra price if he is offering you a stilt car parking space, which falls under the limited common area facilities. The open car parking has to be free of cost as the open sky space is under common area facilities.

Ramdas Palsule, Pune

19th January 2016

Comment

Apart from that there are Pre-casted car parking technique. It is the process of preparing parking columns and beams separately and them together as a block at the construction site. The pre cast construction has been trending in the realty market. Developers today prefer pre casted parking construction as there are many advantages related to it.

bashir,

19th January 2016

Son, you mean to say that if someone is buying flat and looking for parking then they should go for stilt car parking, as it is a cost efficient parking and can save our pocket as well.

And those who are buying a covered car parking, normally it ranges from Rs 2 to 3 lakh or may vary according to the project and the developer brand.

Dayananda, Mumbai

19th January 2016

Hi everybody,
It's really a good and knowledgeable topic for discussion. And one should remember that car parking and open terraces are a part of the society's common areas. They are not a part of the Floor Space Index (FSI). Thus, the builder has no right to charge any money for this space.

Kajal Dewan, Greater Noida

19th January 2016

Comment

But at the same time, if builders proved that they have used the FSI allotted to buyers are not a part of Floor Space Index, then they have rights to sell that space. If developers are restricted from selling space directly, they find ways to cover the cost, by increasing the charge for the super built-up area or by raising the overall per sq-ft rate. In other words, property buyers will continue to pay for parking either directly or indirectly

Kaushik Bardia,

19th January 2016

It is also came to know from the different sources that there are many costs associated with parking spaces, which includes, costs to developers to construct the spaces, costs to drivers who occupy them, opportunity costs of the land used for parking, and external costs. Most parking spaces are automatically included with building purchases and rents.

Kajal Dewan, Greater Noida

19th January 2016

@Kajal Dewan,
And as a result, this forces consumers to pay for parking whether they will use it or not, as businesses will often pass on the cost of parking lots to consumers in the prices of goods they sell.

On the other hand, prices per space vary significantly between the type of structure, above-ground, or underground and the efficiency with which it is built. Superior quality and design will add to those costs.

bashir,

19th January 2016

Yes, it is a very difficult task for the home buyers which one to select. There are multiple types of parking in residential buildings, such as stilt parking and basement parking and more. You will come across different terms like open space, stilt, basement and multi-level when it comes to parking.

Kaushik Bardia,

19th January 2016

Comment

It is absolutely right. Even i have gone through those difficulties. Most home buyers don't know that there are very strong characteristics attached to each type of car parking space. According to your requirements and budget, you need to carefully sift and choose your space.

bashir,

19th January 2016