Buyers too are raking in moolah
Ahmedabad : As the parking norms changed in the city post 2002 where 15 per cent of built-up area in apartment scheme and 30 per cent in commercial complexes had to be reserved for parking,the area became a cash cow for many builders.Interestingly,buyers too are raking in moolah by selling or renting out the parking spaces.
A government official had bought a 3 bhk flat in Prahladnagar for Rs 55 lakh and paid Rs 80,000 and Rs 35,000 for two allotted parking,one on ground floor and another in basement.After retirement,he sold off one of his one cars and decided to put his second allotted parking in basement on sale.The area was bought by a businessman in his building for Rs 70,000,which he had bought for half the price, said Prakash Notani,a real estate broker who was involved in the deal.
Ditto for Ankit Patel,who bought a flat in Bopal for Rs 14 lakh some four years ago with an allotted parking for Rs 40,000.To day,while he is getting Rs 30 lakh for his flat,he also has buyers willing to give three times the price for his parking space.
Buyers who buy a flat ini tially buy an extra parking space keeping in mind the returns on investment.Once the building gets a few years old,three-fold or four-fold appreciation of parking places is common in western ar eas of the city, said a real-estate broker.
Ahmedabad : As the parking norms changed in the city post 2002 where 15 per cent of built-up area in apartment scheme and 30 per cent in commercial complexes had to be reserved for parking,the area became a cash cow for many builders.Interestingly,buyers too are raking in moolah by selling or renting out the parking spaces.
A government official had bought a 3 bhk flat in Prahladnagar for Rs 55 lakh and paid Rs 80,000 and Rs 35,000 for two allotted parking,one on ground floor and another in basement.After retirement,he sold off one of his one cars and decided to put his second allotted parking in basement on sale.The area was bought by a businessman in his building for Rs 70,000,which he had bought for half the price, said Prakash Notani,a real estate broker who was involved in the deal.
Ditto for Ankit Patel,who bought a flat in Bopal for Rs 14 lakh some four years ago with an allotted parking for Rs 40,000.To day,while he is getting Rs 30 lakh for his flat,he also has buyers willing to give three times the price for his parking space.
Buyers who buy a flat ini tially buy an extra parking space keeping in mind the returns on investment.Once the building gets a few years old,three-fold or four-fold appreciation of parking places is common in western ar eas of the city, said a real-estate broker.
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