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CLEAR-SPAN FACILITY

A facility which is designed such that the pillars or vertical columns are on the edges of the structure, in order to leave empty space in between for usage. You can see such a structure usually being used for underground parking spaces.

COMMERCIAL PARKS

A park that houses commercial establishments such as malls, cinema halls, and commercial buildings. These parks usually have an elaborate parking system to accommodate a heavy influx of cars on a daily basis.

CONDOMINIUM

Condos are a privately owned apartment with personally allotted common spaces such as parking space, utilities, and more in a multi-unit building.

CONVENIENCE STRIPS

A dedicated area where an array of convenience and general stores are located as a cluster, with allotted parking areas that lie usually in front of them. These parking spaces are open and close to the entrance of the stores, with the facility to carry carts or trolleys up to the car for comfort.

IMPERVIOUS COVER

A cover made of materials which disallow the permeation of water straight into the soil. This helps in keeping the surface intact during heavy rains. Impervious covers are thus used in parking lots to maintain a smooth and levelled surface.

INDUSTRIAL PARKS

A vast space that includes multiple industrial buildings, such as factories, workshops, godowns, and more. These parks have allotted parking space, the size of which depends upon the size of industrial usage and their types alike.

OFFICE PARKS

A hub of multiple office buildings which are planned, managed, and developed under a single unit. Office parks have large parking spaces to accommodate members of different offices on weekdays.

PARKING AMENITIES

Utilities that enhance the parking experience such as multi-level parking for more space, location tags for large parking spaces, basement lifts come under parking amenities.

PARKING INDEX

Also known as the parking ratio, it is the figure that represents the number of parking spaces available in 1000 sq. ft. leasable parking area.

PARKING LOT

It is usually an open space allocated for parking of vehicles, with secured parking for drivers with special needs, an hourly ticketing system, and a temporary parking facility.

PARKING MAINTENANCE

Costs induced by maintaining a parking space such as sweeping and periodic cleaning of the lots, electricity that goes into lighting, ticketing systems, and elevator usage, and so on.

PARKING RATIO

The number of parking spaces available for every thousand square feet of gross leasable area is termed as the parking ratio figure.

SITE PLAN

A plan of any building space, which gives an insight into the area accommodated by the building, space for parking, other common spaces, and so on. Elaborate parking systems require a concentrated site plan for the parking itself, with multiple levels of parking facilities and specialised amenities.

SPECIALITY INVESTMENTS

Real estate investments that are unique and not conventional, such as mobile homes, agricultural fields, and even parking lots. These types of investments are less popular and thus provide a good market.

SURFACE TREATMENT

Renovating a parking surface by redoing the tar and gravel level, in order to make it smooth for driving and parking. Parking spaces have to go through surface treatment every fey years in order to maintain their quality.

TRIPLE NET

An agreement according to which the tenant is supposed to pay the expenses of taxes, renovations, and treatments, such as those for parking lots and spaces. Triple net varies with each agreement depending upon the parties.