How Much to Rent a Parking Space?

Parking charges can range anywhere between Rs 1,000 and Rs 15,000 per month. The rates highly depend on the location. For example, parking charges are way too high in Mumbai, but in cities like Kolkata or Lucknow, they are way too low. I have lived in 5-6 cities, so I can answer your query: how much can I rent a parking space for? 

How Much Can You Rent a Parking Space for?

Several factors affect the parking charges of a location, but to give you some idea, here is a list you can refer to:

Now, based on demand, availability, size and other aspects of parking spaces, the charges might vary, but generally, they tend to remain between this range.

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ello Sahil. I saw you asking how much to rent a parking spot and would like to offer you my help. I was looking for parking spots in Bangalore last month. I have a bike and a car and the place I live in has no space for both. So, I started my search and found that you can get a parking area for as low as Rs. 500 per month. The prices can go as high as Rs. 6000 per month. Let me further share the pricing details below.

How much is it to Rent a Parking Space?

Parking spaces that I saw were mainly for cars, as I didn’t come across bike parking as such. But, you can use the spaces for bikes, too. 

The pricing varies based on the particular locality. Good localities cost more. A city like Bangalore has higher rental rates, so if you are looking for parking in say a tier 2 city, the prices can be lower.

Also, there’s the factor of whether it is a gated society with covered parking or outside. There were also spaces in commercial areas, so they had different pricing, too.

If you are looking for 2-wheeler parking, the prices would be lower due to the smaller space needed to park. So, keep that in mind. 

So, this is all I know about the monthly rent for a parking space. I hope it helps.

The rent for parking space is not the same for all locations. In Maharashtra, a regulation came out stating that Under Section 84 of the MOFA Act states that a member who has been assigned tilt or the parking space is required to pay the parking charges. These charges are different for bikes and vehicles so let me share the rates here.

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There is no such straightforward answer regarding this query of how much to rent a parking space">Check out NoBroker Rent Agreement Services for a hassle-free experience drafting a rent agreement

If you are wondering, how much should I rent my parking space for, I’d like to highlight a few factors that will affect the rent of a parking spot;

• Location:

A parking lot’s location is a main factor influencing its price. The location will establish a baseline rental rate, overall demand, and target market. Generally, parking spaces in a more exclusive area such as nearby IT parks, shopping malls, markets, and hospitals, are likely to demand a higher price.

• Consider amenities:

Does the parking area or garage you rent have amenities like a closed gate or door, 24-hour CCTV, or floodlights? As they increase the value, safety, and peace of mind for vehicle owners, these features will let you demand a greater charge.

• Type of parking:

The rent of a parking spot depends on the type of parking it is. For example, the price will vary depending on a covered car parking or an open one.  A covered parking space is one that has a complete or partial roof to protect the cars parked there from the elements or pollen that could make them dirty or damage them. Hence, the rental price of a covered car parking is expected to be more than that of an open one.

How much can I rent my parking space for?

Depending on the neighbourhood, parking spot rentals might be anywhere between Rs 400 and Rs 21,000 per month. However, this is just an approximate amount. This will vary depending on the locality. 

I’d like to conclude my answer here about how much to rent a parking space. I hope this helps:)

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