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Parking lots make or break apartment prices
As land prices go up, and cars become common possessions, finding parking space in apartment complexes is becoming either problematic or expensive.

A HOUSE with a car porch had been the ultimate status symbol for many Malayalis once upon a time. For the ultra rich, it was a proper garage a little way off the main house.

Houses with car porches are still in.

Changing needs

But the needs of the changing Malayali middle class are going beyond this basic requirement for parking space.

Apartment dwellers make up an increasing number of the middle class in cities.

And an equally increasing number among them now own not one but two cars. So, parking has become a problem.

Number of car owners

"Back in 1995, when the apartment culture began to take root in Kerala, the number of car owners was not so high as it is today," says Rafi Mather of Mather Group, a building group.

And so, most of the apartments constructed during that period had bare minimum provisions for parking. In earlier days, builders hardly paid attention to the issue of car parking, as vehicles were still a luxury.

So, many city apartments can hardly meet the parking requirements of the residents. Take for example the case of an apartment complex near Palarivattom which has just 12 covered parking lots for 36 apartments.

Initial price

The lots, on the ground floor, were allotted to buyers on a first come, first served basis. The initial price of one was around Rs. 50,000. It has now shot up to almost Rs. 1 lakh. People now quip that it is better to buy a parking lot and live there.

The other occupants in the complex resort to `unauthorised parking,' which means they park their vehicles wherever open space is available.

It is the same story in the housing colonies of the Kerala State Housing Board.

When most of the colonies were built way back in the Nineties, the middle-income groups, whom the board targeted, were too far removed from being owners of cars.

But 15 years later, these colonies are clogged with vehicles.

Jam-packed

On holidays, when people come visiting, the roads become jam-packed.

That is why car parking has turned out to be a big attraction offered by builders these days.

"Apartments without car parking facility can command only half the price of those with car parking," Mr. Mather says.

For example, the price of a luxury apartment that cost around Rs. 50 lakhs at Thevara can roll down to Rs. 25 lakhs in case good parking facility cannot be provided.

Parking space

Most of the builders now provide `one-and-a-half' parking space, in builders' terminology.

Which means, a complex with 100 apartments will have 150 car-parking lots. The allotment (of course, at a fixed price) is on a first come, first served basis.

So, half the owners get the privilege of owning two parking lots, which is not a luxury, but a necessity for many city families having two cars.

New technology

The city builders have started trying out new technology, such as hydraulic parking lifts for providing two-tier parking lots, says Mathen Chakola, of Chakola Group and chairman of Kerala Builders' Forum. The height of the car parking facility will have to be increased to 4.5 metres from the present 3.5 metres for installing a hydraulic lift, known as K-Park. Mostly, the clients install the facility at their own expense, with the builder only making the provision for it in the building.

These lifts cost Rs. 1.25 lakhs and upwards.

Guest parking facility is another issue.

A 100-apartment complex with 150 parking lots should have `guest parking' space for at least 15 cars, it is pointed out.

Ramps

Many new apartments are also trying to have parking lots on the ground as well as the first floor. Some apartments coming up in Kakkanad are said to have parking lots even up to the fourth floor, with ramps used for driving the vehicles up.

However, some builders say that Malayalis are still averse to the idea of using hydraulic parking lifts, as the ultimate idea of luxury is being able to drive towards the car parking area, even along a ramp.


The Hindu - Property Plus - Sunday, Apirl 30, 2006
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