New company to oversee parking in Chennai
Posted on: 04/Jul/2013 4:23:42 PM
In answer to a query by the Parliamentary Standing Committee on Urban Development, the Tamil Nadu government has said that they plan on starting a parking management company that will help in managing parking spots across Chennai.
The query was put across after the Committee visited the capital city and made their observations. The new company will help in managing congestion, along the lines of the practice in Budapest, which is the capital of Hungary. This project will be carried out under the Chennai Unified Metropolitan Transport Authority (CUMTA).
‘The proposed company, which is likely to be set up under the Corporation, will not only prevent congestion but also increase the Corporation’s revenue manifold. The company will also prevent revenue leakages. In the absence of effective parking management, informal systems come into play, leading to revenue leakages’, said a source.
