Until ‘90s it was said that in China if any person wished to own a car, it was mandatory for the buyer to prove that he or she has space to park the car. Factually speaking, it was a wise policy since owning a car also meant its safety as well as protecting it from vagaries of the nature like rain and sunshine.
The adverse effect of this aspect is very much relevant in India too. Evident are the instances of rage over parking one’s vehicle in several cities across the country. And with the ‘open economy’ that the former Prime Minister Manmohan Singh mooted when he was the Union Finance Minister in 1991, the country did witness sudden boom in the auto sector.
Thus almost every tenth urban Indian owns a vehicle, be it a two wheeler or a car including SUV, and consequently, parking has become a gigantic problem despite real estate developers coming up with residential projects having suitable slots for all the owners of these vehicles. Read more