According to the revised rates, parking in the NDMC areas would now cost Rs 20 for the first hour and would go up by Rs 20 for each subsequent hour till five hours with the maximum being Rs 100.
The current rate is Rs 10 for the first two hours and Rs 10 per hour thereafter.
The two parking lots -- Janpath and Barakhamba -- were handed over to Delhi Integrated Multi-Model Transit System (DIMTS) for their modernisation last month.
Next in line are parking lots at Shivaji Stadium and Baba Kharak Singh Marg, the official said, adding, the rates will be gradually implemented in all NDMC areas.
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"DIMTS will be using boom barriers and hand held devices at these parking spaces to issue parking tickets," the official said.
The civic body decided to hike parking rates significantly with an aim to discourage use of private vehicles and decongest various roads in Connaught Place.
NDMC had last month outsourced the modernisation work of its old parking lots to DIMTS, which then carried out a feasibility survey.
The modernised lots will include computerised facility and an online booking system wherein the vehicle owners can book parking lots through the NDMC website.
"The plan is to bring in the billboard system which will be continuously updating the space available in a particular parking lot. A vehicle will not be able to enter the lot if it is full and an automated computerised board will show the next available spot to the driver," NDMC chairperson Jalaj Srivastava had earlier said.