Vehicle owners across Mumbai may soon have to pay significantly more to park at municipal parking lots, with the BMC proposing a 40 per cent increase in parking fees across the city.

According to civic officials familiar with the proposal, the hike has already received approval from the Additional Municipal Commissioner (Projects) and is now awaiting clearance from Municipal Commissioner Ashwini Bhide. The proposal will subsequently need approval from the Standing Committee and the civic general body before implementation through a formal notification.