
MCD fines overcharging parking operators
Municipal Corporation of Delhi
(MCD) has imposed penalties totalling approximately Rs 25 lakh on five contractors who were found overcharging users.
The move comes amid growing complaints from people regarding overcharging at MCD-supervised parking lots across the city.
Responding to these complaints, MCD has acted against the operators involved and taken steps to verify if other parking sites have seen similar violations.
As part of this effort, the civic body has claimed that it has started training its field staff to identify and report the malpractice. "We will not hesitate in cancelling the parking contract and blacklisting such contractor," MCD stated, clarifying its position.
You Can Also Check:
Delhi AQI
|
Weather in Delhi
|
Bank Holidays in Delhi
|
Public Holidays in Delhi
In a further move to increase transparency, MCD has reportedly made the complete list of authorised parking sites, along with official parking rates and related details, available on its website: https://mcdonline.nic.in/portal.
For instance, parking charges for cars will generally range from Rs 20 per hour to a maximum of Rs 100 for 24 hours, while two-wheelers will be charged Rs 10 per hour with a 24-hour cap of Rs 50.
Monthly passes will also be available, with car passes priced at Rs 1,200 for day use and Rs 2,000 for combined day and night access. Specific zones such as Yusuf Sarai Market and Karol Bagh will have slightly different rate structures, which has been outlined online, MCD has said.
To avoid further confusion, MCD has also stated that the "parking charges are fixed by us, and no contractor is authorised to collect any amount beyond the approved rates".
The action has been taken at a time when MCD oversees approximately 400 ground-level and multilevel parking facilities, with additional sites expected to come under its purview.
MCD has also warned the public about overcharging and urged people to stay vigilant when using parking facilities. Residents have been encouraged to report any irregularities via the 311 helpline, MCD mobile app, email, or written complaints to enable timely action against violations.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time of India
an hour ago
- Time of India
India's second-hand car market: Poised to cross 6 million sales; over twice as fast as new cars
India's used car market is on track to cross 6 million units in sales this fiscal, fuelled by value-conscious buyers, increasing digital adoption and improved access to finance, according to a report by Crisil Ratings. The surge has pushed the used-to-new car sales ratio to 1.4, up from below 1 five years ago, with volumes growing at more than twice the pace of new car sales. After a modest 5% growth between fiscals 2017 and 2024, used car volumes rose by a robust 8% last year, and Crisil expects growth to touch up to 10% this fiscal. T he market value of these vehicles is pegged at around Rs 4 lakh crore, nearly matching that of new car sales. While organised players in the sector continue to incur high operating costs, mainly due to refurbishment, logistics and financing, the segment is in expansion mode and yet to turn profitable. But Crisil expects strong revenue growth to drive breakeven at the operating level this fiscal or the next. In the meantime, the credit health of companies will rely heavily on timely fund-raising and sufficient liquidity to support expansion. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Beachfront Living in Mumbai at Sunteck Beach Residences Sunteck Realty Learn More Undo Anuj Sethi, Senior Director, Crisil Ratings, said, "The improvement in the used-to-new car sales ratio to 1.4x from under 1.0x five years ago signals a structural shift, driven by rising consumer confidence and digital adoption. The supply too remains strong with average age of used cars steadily dropping and is expected to reach around 3.7 years, reflecting quicker upgrade cycles and growing preference for utility vehicles, mirroring new car trends. " The report noted that India still lags behind mature markets, where the used-to-new car ratio stands higher, 2.5 times in the US, 4.0 in the UK, 2.6 in Germany and 3.0 in France, suggesting there is ample room for growth. Used car sales also held firm during the pandemic and global semiconductor shortages that hit new car production. With fresh delays now caused by rare earth magnet shortages, buyers are turning to pre-owned vehicles for faster availability. The post-pandemic rise in new car sales has also expanded the range of available used vehicles, a boon for first-time buyers. In addition, lender-platform tie-ups and AI-led underwriting have eased access to vehicle finance, further supporting the shift. While the sector has grown rapidly, profitability remains a challenge for organised players. Poonam Upadhyay, Director, Crisil Ratings, said, "High cost of customer acquisition, logistics and refurbishment continues to weigh on the operating margin, which remains thin or negative for many players. However, the shift towards integrated service offerings including inspection, refurbishment, financing, insurance, and doorstep delivery, along with tighter cost control, should help narrow the losses down gradually. If the current momentum on cost agility sustains, most players are likely to achieve an operating breakeven over the next 12-18 months." According to Crisil, most players have enough cash reserves from earlier fundraising rounds to meet operational and capital expenditure of Rs 800–1,000 crore this fiscal, with a focus on expanding inspection hubs and strengthening tech infrastructure. Since fiscal 2019, organised players have raised more than Rs 14,000 crore through equity. But in the past two years, the emphasis has shifted towards improving profitability and operational efficiency, leading to more selective fundraising. Bank credit remains constrained due to ongoing cash burn, but Crisil expects a pickup, especially for inventory-led businesses with tangible collateral. Looking ahead, the report said the used car market is likely to remain structurally stable, but availability of quality inventory will be a key factor to watch. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now


Time of India
an hour ago
- Time of India
Wheels India infuses €50,000 into newly formed European subsidiary
Wheels India Ltd , a manufacturer of steel wheels and cast iron-wheels has infused 50,000 euros into its newly formed entity and subsidiary WIL Europe GmbH , the company said on Sunday. The subsidiary WIL Europe GmbH is in the process of formation and is yet to commence operations. It is being developed to expand and do business activities in Europe, Wheels India said. "We wish to inform you that the company has infused funds Euro 50,000 towards the equity share capital of WIL Europe GmbH proposed to be incorporated in the name of WIL Europe GmbH, a wholly owned subsidiary of the company," Chennai-based Wheels India said in a regulatory filing. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas Prices In Dubai Might Be More Affordable Than You Think Villas In Dubai | Search Ads Get Quote Undo The company would be engaged in automotive-non-automotive related activities and services, and also in supply chain management and other allied services. The capital infusion was through a cash consideration of 50,000 equity shares having a face value of Euro 1 each, the company said. Live Events In May, Wheels India said it has earmarked Rs 250 crore as capital expenditure for the current financial year, with the majority of it being set aside for manufacturing windmill components. For the financial year ending March 31, 2025, the company reported a net profit of Rs 105.9 crore, as compared to Rs 67.9 crore registered in the previous financial year.


India Gazette
2 hours ago
- India Gazette
India's used-car volume to grow 8-10% in 2025-26, over twice as fast as new cars: Crisil
New Delhi [India], July 13 (ANI): The sales volume of used cars in India is expected to cross 6 million units this fiscal driven by value-conscious demand, rising digital adoption and better access to finance, the credit rating agency Crisil Rating said in a report. This has lifted the used-to-new ratio in car sales to 1.4 from less than 1 five years ago, with the volume growing more than twice as fast. After a tepid 5 per cent volume growth seen between fiscal 2017-24, used vehicle sales grew at a strong 8 per cent last fiscal and is poised to grow up to 10 per cent this fiscal too, said the credit rating firm. The market value of these used cars is estimated to be around Rs 4 lakh crore, nearly matching that of new car sales. The organised players in the segment have been incurring high operational cost towards refurbishment, logistics and financing as the sector is in an expansion mode, resulting in continued cash losses. However, strong revenue growth is expected to drive breakeven at the operating profit level over this and the next fiscal. Until then, credit profiles of players will largely depend on timely fund-raising and sustenance of adequate liquidity to support growth. Anuj Sethi, Senior Director, Crisil Ratings said, 'The improvement in the used-to-new car sales ratio to 1.4x from under 1.0x five years ago signals a structural shift, driven by rising consumer confidence and digital adoption. The supply too remains strong with average age of used cars steadily dropping and is expected to reach around 3.7 years, reflecting quicker upgrade cycles and growing preference for utility vehicles, mirroring new car trends.' The report further added that there is significant headroom for growth as India's used-to-new car sales ratio of 1.4 times still lags mature markets such as the US (2.5 times), UK (4.0 times), Germany (2.6 times) and France (3.0 times). The segment, which saw volume remain stable even during the pandemic and semiconductor shortage that disrupted new car production is expected to remain resilient as prolonged rare earth magnet shortages delay new car deliveries, prompting buyers to opt for pre-owned cars and gain quicker access. Besides, first-time buyers have a wider range of used car models to choose from, supported by healthy new car sales in the post-pandemic period. To top, improving access to vehicle finance, through lender-platform partnerships and underwriting, driven by artificial intelligence, is likely to support this shift. Strong growth has led to expansion of organised players in the used car segment even as profitability remains a challenge. Poonam Upadhyay, Director, Crisil Ratings, said, 'High cost of customer acquisition, logistics and refurbishment continues to weigh on the operating margin, which remains thin or negative for many players. However, the shift towards integrated service offerings including inspection, refurbishment, financing, insurance, and doorstep delivery, along with tighter cost control, should help narrow the losses down gradually. If the current momentum on cost agility sustains, most players are likely to achieve an operating breakeven over the next 12-18 months.' The report stated that most players have sufficient cash reserves from earlier funding rounds to meet their operational expenses and capex of Rs 800-1,000 crore this fiscal, focused on scaling inspection hubs and strengthening technology infrastructure. Organised players have collectively raised over Rs 14,000 crore via equity since fiscal 2019, though over the past two fiscals they have shifted focus to enhancing profitability and efficiency and have been selective in fund-raising. Bank credit, which remains constrained by the ongoing cash burn, should pick up, especially for inventory-led players with tangible collateral, as per the report. Looking ahead, the used car market is expected to remain structurally steady, but availability of quality inventory will bear watching, the Crisil Ratings said. (ANI)