Sukriti Yaduwanshi

There are several types of parking in residential buildings, such as stilt parking and basement parking and more. Many home buyers are clueless about which one to select. Here is what you should know before choosing a parking space for yourself.

While buying a home or renting an apartment, one of the most sought after spaces is that of parking. With an increasing vehicular population, better solutions are coming out in the space of parking with each passing day. You will come across different terms like open space, stilt, basement and multi-level when it comes to parking. Most prospective homebuyers do not know that there are very strong characteristics attached to each type of car parking space. According to your specific requirements, you need to carefully sift and choose your space.

Asha Nayar Basu, senior partner S Jalan & Co says that car parking and open terraces are a part of the society’s common areas. They are not a part of the Floor Space Index (FSI). Hence, the builder has no right to charge any money for this space.

Developers can only sell this space if they can prove that they have used the FSI allotted to them to develop it. Even the Competition Commission of India (CCI), pointed out that the parking area cannot be charged separately and must form a part of the common area and facilities.

“If developers are restricted from selling slots directly, they find ways to cover the cost, by increasing the charge for the super built-up area or by raising the overall per sq rate. In other words, property buyers will continue to pay for parking either directly or indirectly,” says Basu.

Cost of parking

There are many costs associated with parking spaces, which includes, costs to developers to construct the spaces, costs to drivers who occupy them, ‘opportunity costs’ of the land used for parking, and external costs. Most parking spaces are highly subsidized, or automatically included with building purchases and rents. This forces consumers to pay for parking whether or not they use it, as businesses will often pass on the cost of parking lots to consumers in the prices of goods they sell.

“Prices per space vary significantly between the type of structure, above-ground, or underground and the efficiency with which it is built. Superior quality and design will add to those costs,” says Aditya Singh, a civil engineer.

The developer will charge for the car parking based on the common areas defined. The limited common areas assigned to each unit include a patiogarden, attic storage, a crawl space, an entrance area, and a driveway parking area, which are chargeable. Common areas like the interior surfaces of the apartments include walls, floors, ceilings, windows and doors, the green belt areas, other yard areas, all garden areas that are meant for the common use of all buyers or residents are non-chargeable.

The builder can charge you extra price if he is offering you a stilt car parking space, which falls under the limited common area facilities. The open car parking has to be free of cost as the open sky space is under common area facilities.

Pre casted car parking technique

A pre casted car parking is the process of preparing the parking columns and beams separately and then framing them together as a structure or block at the construction site. In a layman’s term, pre cast framing is constructing a building by attaching various pre build frames together. The pre cast construction has been trending in the realty market. Developers today prefer pre casted parking construction as there are many advantages related to it.

If you are planning to construct your own parking space, you can opt to build stilt car parking, as it is a cost efficient parking. A pre casted stilt parking can save your pocket.

If you are buying a covered car parking, normally it ranges from Rs 2 to 3 lakh or may vary according to the project and the developer brand. Open car parking can be cheaper relatively. Home buyers generally keep a check whether the project is approved and free from litigations.

Generally, people tend to pay for car parking space without analyzing the safety quotient. Buyers can ask for various certificates like earthquake resistance certificate and environment clearance certificate that proves the credibility of the parking space, which is equally important.

People who buy apartments or flats check each aspect of the building right from the location of the rooms to the quality of furnishing. What they ignore is the place where they park their vehicles or in other words the parking lot. A parking space requires your attention.