India, Aug. 16 -- Bengaluru residents who park vehicles on public roads outside their homes could soon have to pay an annual residential parking fee of up to Rs.25,000, depending on the vehicle type, under the draft Greater Bengaluru Authority (GBA) (Parking) Rules, 2026. The Karnataka government has invited objections and suggestions on the proposed rules.

The proposed parking charges could have an impact beyond residents' annual expenses, potentially influencing housing prices, rents and buyer preferences. Real estate experts say homes with dedicated and assured parking could command a higher premium as buyers increasingly factor parking availability into their purchase decisions.

For tenants, the impact could be more immediate, with ...