Parking charges in India are lowest in the world

A steep hike in parking charges proposed by the Municipal Corporation of Delhi beginning January, along with the new idea of a congestion tax to be levied on all vehicles entering three MCD zones - City, Karol Bagh and Sadar Paharganj, could actually be a step in the right direction. Though Delhiites are privileged in terms of having a metro that spans pretty much the length and breadth of the city , there is still traffic congestion. Low parking charges could be a strong reason for this.

According to Colliers International's survey on parking rates worldwide Indians pay the least for parking facilities on a monthly basis in the major metros. Though in the survey, where local currencies have been converted to the US $, the rates have not been adjusted to purchasing power parity, it is still significant that on a monthly parking costs over five times more in Beijing and Mexico City. It is over 25 times more in Hong Kong, and around 20 times more in New York when compared to our cities. The survey shows the most expensive place in the world to park a vehicle is London city. Here monthly charges are at a whopping $ 1,084, followed by its West End sub markets at $1,014.

Most countries use parking charges as a disincentive for car owners to use private transport, upping parking rates to the extent that it begins to pinch. In terms of daily parking rates Oslo, Copenhagen, and Melbourne beat London and Tokyo. Amsterdam, known for promoting cycling and public transport, is among the top 10 in expensive parking. Its citizens pay around $ 58 for daily parking and $ 587 on a monthly basis.

Where Indian cities are concerned, Mumbai surprisingly has one of the lowest parking charges. Some estimates reveal that Mumbai has around two million cars, while parking slots including at the airport, the state road transport parking and the corporation parking are around 30,000. Delhi too has a serious parking deficit, giving way to plans for multi-level parking at several popular market places. The Colliers International's survey provides data on 156 central business districts across the globe for both monthly and daily parking rates.

Keywords: delhi metroMCD

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