The Chennai Corporation will construct a multi-level parking facility, exclusively for two-wheelers, on NSC Bose Road.
Bidding for the Rs. 4-crore facility will begin after the Corporation council passes a resolution next week.
The proposed parking lot will be constructed on the western side of Flower Bazaar police station.
The four-storied structure will be able to accommodate 672 two-wheelers. Special sanction will be obtained from Chennai Metropolitan Development Authority to construct the facility as the identified piece of land near Flower Bazaar police station is classified under institutional land use. The construction will be completed in nine months after the work order is issued.
Irregular parking in the central business district will be regulated after the construction of the parking lot, an official said.
The facility will have separate entry and exit points, and an elevator and CCTV surveillance, the official said.
According to a survey conducted by consultants, more than 95 per cent of two-wheeler riders at the parking lot were willing to pay for parking their vehicles.
The minimum parking fare is likely to be Rs. 5 for less than three hours.