New Delhi/IBNS/UNI: Prime Minister Narendra Modi is likely to inaugurate India's new parliament building at the end of May, as per sources.

The foundation stone of the new parliament building was laid by Modi in December 2020.

The source said the new building of parliament will be inaugurated by the Prime Minister to mark nine years of his government.

Prime Minister Narendra Modi had taken the oath of office nine years ago on May 26, 2014.

The four-storey building, built at an estimated cost of Rs 970 crores, can house 1,224 MPs, officials said.

It also has a grand Constitution hall to showcase India's democratic heritage, dining areas, and ample parking space.

The new structure has three doors, Gyan Dwar, Shakti Dwar, and Karma Dwar, and separate entries for MPs, VIPs, and visitors, officials said.

There are speculations that a meeting of Speakers from Parliaments of G20 nations may take place in the new building later this year, as India has the G20 presidency for 2023 source said.