CAR PARKS: Potential Business Sector

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   Any idea of major listed players in this sector??

With one among 10 Indians already owning a motor vehicle, parking lots in the country could earn an estimated Rs 5,500 crore annually by 2010. 

According to an estimate by 'Dare', a magazine for entrepreneurs, parking lots in five big cities could fetch Rs 3,281 crore while those in other cities Rs 1,732 crore. 

Onsite advertisements in parking areas could collect a revenue of another Rs 501 crore. 

The figure was reached by calculating the existing parking spaces, including multi-storey parking lots and shopping malls, besides those likely to come up in the next three years. 

It is roughly estimated that out of 8,760 hours in an year, on an average a car runs for 400 hours or so, leaving the remaining 95 per cent of its time in parking, it said. 

There are about 40 cities in India with million-plus population where multi-level parking facilities can be effectively used, according to Dare. 

Commercial utilisation of the parking premises and user fee collection are the primary sources of return from the investments. 

Moreover, the manufacture of many of the equipment, which were hitherto imported paying hefty duties, also promises good business opportunities. 

Source: here