Prime Minister Narendra Modi laid the foundation stone of the New Parliament Building at Sansad Marg in Parliament Complex.
Tata Projects Ltd has been given the contract for the construction of this project.
It will come up in an area covering 64,500 sqm at a cost of Rs 971 crore.
It is expected to be finished by or before 2022.
The country will celebrate its 75th Independence Day in 2022.
The new Parliament building will have a bigger Lok Sabha and Rajya Chamber with the lower house having 888 seats, while the upper house will have 384 seats.
It will be able to accommodate 1224 members during a joint session of the parliament.
The new Parliament building will not have a central hall unlike the existing one.