Failing to provide adequate parking space after construction of a building in a residential area under the MCD will cost a penalty of lakhs of rupees.
The Municipal Corporation of Delhi (MCD) has issued a circular, making construction of parking space within a building mandatory, failing
which the building plan will not be sanctioned.
Residents with plots measuring 500 square metres in posh colonies will have to deposit a sum of Rs. 20 lakh in a bank as a guarantee for five years, which will be appropriated by the MCD if the designated parking space is covered by the owner later. 
The sizes of the plots determine the parking space that has to be created. For instance, for a plot measuring 100 square metres, two equivalent car spaces (ECS, the space occupied by a particular vehicle) will have to be created within the building.
Each ECS has a different rate, depending on the category of the colony. For instance in posh colonies in categories A and B, the bank guarantee per ECS is Rs. 2 lakh.
"We will carry out inspections and if we find that the space has been covered that bank guarantee will be forfeited to us," said a senior MCD official.
In Greater Kailash I, a plot measuring 500 square metres must provide parking space for 10 vehicles on the ground floor. This means that the owner of the building will have to place a bank guarantee of Rs. 20 lakh.