Hyderabad: Parking lots make between Rs 6,000 and Rs 50,000 per day, depending on their size. While GHMC parking lots have scheduled parking fees, private contractors have a free hand in deciding the charges, giving them a higher turnover per day.
Moreover, parking lots also benefit from an hourly fee format which allows them to make more money. Sometimes tickets are given at higher than approved rates of Rs 10 for a two-wheeler and Rs 20 for four-wheelers for the first hour even at GHMC parking slots while privates ones charge from Rs 10 to Rs 20, or more depending on the demand.
“There is no mandate or rule for the private parking lots. Their parking fee is decided by pure market dynamics,” said a senior official from GHMC.
Contractors of smaller slots have indicated a turnout of Rs 4,000 per day but as per insiders the actual amount would be at least double that. In busy places sometimes people park for only 15 to 20 minutes but end up paying for one hour.
While on one hand these same slots can earn two to three times the fee of parking for one hour if vehicle movement is fast, on the other hand for vehicles that are parked for one or two hours, they end up paying for the few extra minutes too as they are charged for a full hour even if it a few minutes over the hour mark.
“Most parking slots do not have half-hour fees and motorists end up paying for one full hour, two hours or more even if they slightly cross the hour. Our neighbouring parking slot makes at least Rs 6000 per day,” said an attender at a slot near Paradise junction.
In fact, if someone goes shopping at three to four different locations on a single day, the parking costs can go up to Rs 150 (for three to four hours of parking at different areas) or more if the parking time goes up.
