Parking is costlier than buying a car, parking space costs 6 crores in cities

highlights

  • Many celebrities use such parking space

  • Things became difficult in Kovid-19

Finding a parking spot in big cities is even more difficult than buying one’s own vehicle. This is not only the condition of India, but finding parking in the biggest metros of the world is often a challenge. However, if you have crores of rupees to spend, you might feel a little less bothered about it. Yes, parking spot prices range from $450,000 to $590,000 at some of New York City’s most prestigious addresses. Recently, a parking spot attached to 16 million-apartment has been sold for $750,000 i.e. Rs 6 crore 12 lakh.

Parking space is worth crores of rupees

To own a parking space near Gramercy Park in New York, you will have to shell out Rs 2 crore. However, this is not a regular location. According to a CNBC report, it is equipped with a German-made self-parking system that can lift and move 24 cars.

Many celebrities use such parking space

The system also automatically delivers the cars. Owners just need to swipe the RFID tag and their cars will be delivered to them in just over three minutes. Celebrities live in many of these luxurious properties, so this automatic parking gives them complete privacy. Listing agent Julie Pham told CNBC, “They liked the idea that you don’t have to contact a valet or a parking lot, or have someone follow you. It gives them privacy.

Things became difficult in Kovid-19

According to a Bloomberg report, there was a massive 224 percent increase in car ownership in NYC last year as citizens shunned subways due to the fear of Covid infection. Also, due to work-from-home, many cars were not removed from the parking space, which made the problem deeper. Quoting a Bloomberg report, a housing attorney says that the situation had worsened slightly in Kovid-19. But now it is almost impossible for me to find parking because no one is driving their car.

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