The Walled City today inaugurated its first multi-level parking lot with a capacity to hold around 1,020 cars. Five more parking projects are scheduled to be completed by March-end, said Delhi Mayor Prof Rajni Abbi. The parking has been built at Parade Grounds, Subhash Marg near the historical Red Fort and Jama Masjid, at a cost of Rs 52.83 crore. The project was started in March 2010 and the construction has been completed in two years. The three-level underground parking will accommodate about 720 cars, while the surface will be utilized for parking 300 cars. "This will boost the civic agency's efforts to ease the parking problem of the city," said Abbi. Speaking on the occasion, she said that the parking in the walled city had been the long-pending demand of the area. She said that the old city is famous among the tourists and the area is one of the biggest commercial hubs, drawing a large number of vehicles. Giving the details of the project, engineer-in-chief Ravi Dass said that the parking has been designed for optimum space utilization. Safety measures in regard to earthquake and other natural calamities have been duly considered. All the fire safety measures have been provided. Besides, a staircase at six different locations has been given for users other than ramp. The parking will prove beneficial to the tourists, traders and others visiting historical Chandni Chowk, Jama Masjid and Red Fort. Pointing out that nearly 1,000 new vehicles are added daily to the city roads, Abbi said that the problem of parking is a major cause of concern for a city like Delhi. The project had been in abeyance as there were many objections to it such as organizing annual events at the grounds, including 'Ramlila'.