With among 10 Indians owning a motor vehicle, parking lots in the country could earn an estimated Rs.5,500 Cr. annually by the year 2010. Out of 8760 hours in a year, a car runs for 400 hours average, staying 95 % of the time in parking. Parking lots make for big business:

1) Rs.3,281 Cr. estimated amount to be earned by parking lots in five big cities.

2) Rs.1,732 Cr. estimated money inflow from parking lots in other cities.

3) Rs.501 Cr. revenue likely from onsite advertisements in parking lots.

4) 100 millon numberof vehicles registered in yr.2007.

5)   Rs.1 Cr. money collected from 24hour parking locations manually.

6) Rs.50 Cr. likely to be arened if automatic machines are installed.

The figures werereached by calculating the existing parking spaces, including multi-storey parking lots and shopping malls, besides those likely to come up in next three years.(source:PTI/Illustration:Durg)