The city administrations, especially in India lose Crores of Rupees due to lack of a proper parking management system in place. The city has no record of how many cars were parked and how much revenue they should have made. Use of valuable urban space is offered for parking either free or for a pittance. This perpetrates hidden subsidy to car owners as the cost of using up scarce and valuable urban space for parking are not recovered through proper pricing and taxes. Parking spaces are created on road and off road. In the absence of proper parking management both create pressure on the pedestrian space. Unplanned and on-road parking usurps the walkways. Transaction by cash leads to revenue leakage and corruption. The subsidy to the car will work out to be even higher if the rental or the land cost of the parking space is considered. Increased investments in expensive multistoried structured car parks in prime areas will further enhance the subsidy as the parking rates are not expected to recover this cost. If pegged to the recovery of the capital cost of multi-level car parks parking charges should be as much as Rs 35-40 per hour. But the parking charges in India, mostly is only Rs 10 per hour.
By installing our sensors and integrating parking availability with our app, the commuters can use it to find parking availability throughout the city. The administrators can use our cloud based platform which generates numerous reports to plan traffic effectively. Decisions regarding traffic can be taken with real-time data. The cloud based app provides information regarding how many cars were parked and for how long, thus giving an accurate audit of the entire city's managed parking areas. This ensures the collection of revenue and weeds out corruption. The app can be used to advertise, which increases the scope for additional revenue for the city.