The cost of parking spaces in apartments increases every day. Many apartments charge from 2 to 5 lakhs for open parking spaces. When someone visits a mall, temple, or market, you must give Rs 30 into Rs. 100 for paid parking.
How You Can Start Your Own Prepaid Parking Lot Business in India
Many people who have open plots near the famous temples, are minting money using their open plot as a parking lot. Prepaid parking costs Rs. 50 for the vehicle to the vehicle owner and pay only one security guard to the plot owner. At least 50 cars are parked on these parking lots at any time. Parking lot can be up to 2 km from the tourist area. A daily income of 500 cars per 2 acres will be about Rs.25,000/-. If the open plot is located near the famous temple in a small town, the cost of the plot can not even exceed 10 lacs. No other investment can give a better return than this.
With the improvement of the network and the quality of highways, many people prefer to travel interstate by their own vehicle. They don’t mind paying Rs. 50 parking as they want their vehicle to be safe.
The practice of free and indiscriminate parking will soon disappear, as India is gradually moving to a paid parking regime. The growth in car sales will also create a huge demand for paid parking spaces. It seems a good idea to use open plots near famous temples, shopping centers, markets, parks, tourist spots and so on.
Like Uber and Ola, many aggregate parking apps, such as Getmyparking, have begun to provide users with real-time parking. Users can search, book and navigate through the parking using these applications. Parking lots may be associated with these applications in order to gain more customers.
I believe that prepaid parking lots business will be the next big thing in India.