Real estate info required - parking rules

Status
Not open for further replies.
K

Kneo

Explorer
Hi,
I have recently bought a property at Vikhroli (eastern suburbs of Mumbai) and its still in construction. I am already maxed out financially and have taken a housing loan for the same. Now the complex has enough parking (more than 1 per flat). So does it make sense to buy parking from the developer (who by the way is asking for black money) or do i wait for the possession and the housing society to form before i buy it ? I dont haev a car yet, but am planning to get it in a couple of years.

1. The current rates are 1.5L for underground parking (below the garden etc) and 1.75 for basement (under the building). Stilt parking is already full.

2. What if the rates increase drastically in another 6 months if I wait for the possession and housing society to form

3. The builder says that he will not transfer the parking space to the society unless he sells off all the space.

4. What are the laws for the same ? If i get a car and dont have parking space, will the society prevent me for parking my car ?

5. Ideally, by law should I buy it from the builder or the society ?

6. Do you know about any other forums or site who specialize in this area i.e. real estate, etc in Mumbai ?

Thanks in advance.
 
let me try to help you out

firstly ,the rates are very very high for parking ... he is charging a bomb
try to enquire the rates in nearby buildings.

3. The builder says that he will not transfer the parking space to the society unless he sells off all the space

he will have to transfer to society once its formed ... thats the rule

if you dont buy from him and buy from the society , it is dependent on the society to decrease or increase compared to builder prices ... it will depend on demand of parking space , society fund collection etc etc

4. What are the laws for the same ? If i get a car and dont have parking space, will the society prevent me for parking my car ?

yes , they can stop you.

5. Ideally, by law should I buy it from the builder or the society ?

you can buy from either

6. Do you know about any other forums or site who specialize in this area i.e. real estate, etc in Mumbai ?

Not that im aware of , i know all this cause i had to do the same thing with builder & society...

My advice , bargain and buy from builder ... with society , it will be a risk later on wrt price & availibility
also,
if there is parking space in the compound and society allows parking there , you can park then ... you wont have to pay any amount then , just the monthly charges :D
 
is Vikhroli near the industrial side ? think parking is an issue there so its better to opt for parking now.. you dont want to run into issues later. if you dont get parking you ll probably have to park in someone elses lot or something which wont really work out.

just curious which builder is this ?
 
This is a very sore topic for me at the moment - a month back I got a car and there is no parking avilable inside the building compound - there is only space for 7 cars inside and 5 of these are used by the buidings society committee members :@ The committee members in my building are the "keeda mokadas" of the human race - they will never do anything to help people not part of the committee.

Another problem is that around my house we have 2 colleges and the Hyundai Cars Service Centre and a 4 star hotel and many shops which means lots of cars parked on the roads around my house and right across my house is the Kuwait Consulate who do not allow any cars to park on the road outside their building. MAN it sux to have a car over here. :@

By the way I understand an enclosed garage for one car in buildings over here go for 20 Lakhs !! :O
 
Dude...Buy the parking space....Beleive me its a right decision...The number of cars in ur building is gonna increase every year.....My dad made a mistake of not buying a parking space while buying the new house, now he is regertting it...
 
supposed u dont manage to get one you will have problem selling flat later as well if theres no parking alloted
 
Ditto mate buy the space at 1.5 Lacs i say its still cheaper,

Just imagine once you have the car and you dont have the space, you will be forced to park some where else....

Incase of emergency you will have to run across every time...

I know how it is, my uncle has to do this every day, park the car around 500-700 Mtr away from his house and walk home the remaining distance
 
My dad bought parking in an apartment in Patna for 60K, 1.5 L in Mumbai is a bargain relatively I'd say

also, the resale value of the flat would suffer if itt doesn't have its parking space
 
Forget about resale value....once the parking spaces are all sold, you are left stranded...its better to fork out the moolah and get it before its gone...

But do try to bargain...

And yes it is better to buy it from the builder. Eventually he has to give it to the society, but you are taking a risk...as the price fixed by the society may be higher or worse all the parking space could get sold...
 
Eazy said:
This is a very sore topic for me at the moment - a month back I got a car and there is no parking avilable inside the building compound - there is only space for 7 cars inside and 5 of these are used by the buidings society committee members :@ The committee members in my building are the "keeda mokadas" of the human race - they will never do anything to help people not part of the committee.

Another problem is that around my house we have 2 colleges and the Hyundai Cars Service Centre and a 4 star hotel and many shops which means lots of cars parked on the roads around my house and right across my house is the Kuwait Consulate who do not allow any cars to park on the road outside their building. MAN it sux to have a car over here. :@

By the way I understand an enclosed garage for one car in buildings over here go for 20 Lakhs !! :O
Click to expand...

Living in town / suburbs has its own perils :P

kalpesh , best is to go with parking in compound if allowed & if its ok with you and your car :D ... you wont have to pay a penny :ohyeah:
 
well in dahisar side also the parking space amounts to 70K see if ne kinda barganing is possible if too many people arent demanding types (atm) for spaces theres a chance u might be able to get a good deal of it ;)
 
IMHO,1.5 or 1.7 L is VERY GOOD a price for Mumbai !

Just 2 days ago,i was quoted a fig of 2.5 L for Covered parking @ a UP-market Kolkata residency (under construction)
 
Eazy said:
This is a very sore topic for me at the moment - a month back I got a car and there is no parking avilable inside the building compound - there is only space for 7 cars inside and 5 of these are used by the buidings society committee members :@ The committee members in my building are the "keeda mokadas" of the human race - they will never do anything to help people not part of the committee.

Another problem is that around my house we have 2 colleges and the Hyundai Cars Service Centre and a 4 star hotel and many shops which means lots of cars parked on the roads around my house and right across my house is the Kuwait Consulate who do not allow any cars to park on the road outside their building. MAN it sux to have a car over here. :@

By the way I understand an enclosed garage for one car in buildings over here go for 20 Lakhs !! :O
Click to expand...

LOL.. I'd go one better. The American consulate residence is just around the corner, and they refuse to allow car parking there after the attack on the Ami consulate in Kolkata in Jan 2002. 8-9 cars..

And there's a taxi stand as well, so we can't park there, the road turns quite abruptly so no cars on the turn.. you know how those towing guys are, idiots who just take a car if they feel like it. We have one garage and one place inside the building, but the 3rd car has issues with space.
 
kalpesh a better idea which i m doin righ now...get the place.........

and ifu dont have car giv to somone on rent.......frm past 2 yrs my parking space is used by somone who pays me monthly rental.......yippey...blk money...but most probably by this year end we will get our car...so will put his ass out now.......
 
scarezebra said:
Dude...Buy the parking space....Beleive me its a right decision...The number of cars in ur building is gonna increase every year.....My dad made a mistake of not buying a parking space while buying the new house, now he is regertting it...
Click to expand...

But the point is - the ratio of parking spaces to flats in the building is more than 1 i.e. more than 1 parking space per flat. The building also has podium parking ..its a huge complex of six 18 story towers
 
magnet said:
kalpesh a better idea which i m doin righ now...get the place.........
and ifu dont have car giv to somone on rent.......frm past 2 yrs my parking space is used by somone who pays me monthly rental.......yippey...blk money...but most probably by this year end we will get our car...so will put his ass out now.......
Click to expand...

How much rent can one expect for a parking space ? Have no idea about this...
 
I am finding the rate for the parking too expensive. In Lokhandwala, the rate for a parking is going arnd 2lk........

But a parking is better taken.
 
Status
Not open for further replies.
Top Bottom