Vehicles are to get costlier in the capital city of India, Delhi with the introduction of one-time parking fees. Currently, prices for an automobile are the cheapest in Delhi, owing to lower tax rate structure. In an attempt to control vehicle buying and pollution in India's capital, a new hike is proposed by the Government.
Both, four-wheelers and two-wheelers will be affected by the new one-time parking fees in Delhi. Commercial vehicles, auto-rickshaws, and buses will have to pay parking charges per year. Passenger vehicles and two-wheelers will be charged one-time parking fees according to the model and price.
Motorcycles and scooters that cost up to Rs. 60,000 will witness a one-time parking fee of Rs. 1,000. Two-wheelers that cost over Rs. 60,000 will have to cough up two percent of the cost of purchase as a one-time parking fee.
Four-wheelers that cost within Rs. 4 lakh will attract a fee of Rs. 8,000. Models that cost from Rs. 4 lakh to Rs. 6 lakh will have to pay a one-time parking fee up to four percent of vehicle's cost or Rs. 16,000. The new one-time parking fees will surely influence buyers decision to an extent.
Automobiles priced between Rs. 8 lakh to Rs. 12 lakh will witness either 48,000, or six percent of the vehicle's cost as the one-time parking fee. Vehicles costing from Rs. 12 lakh to Rs. 20 lakh will be costlier by Rs. 96,000 or eight percent of vehicle's cost.
Luxury vehicle buyers will also have to pay one-time parking fees and four-wheelers that cost between Rs. 20 lakh to Rs. 40 lakh will pay one-time parking fees worth Rs. 2 lakh or ten percent of total cost. Finally vehicles that cost over Rs. 40 lakh will attract Rs. 6 lakh or 15 percent of vehicle's cost as one-time parking fees.