New Delhi: Prime Minister Narendra Modi will lay the foundation stone of a new Parliament building on Thursday at an event which will be attended by leaders from various political parties, cabinet ministers and ambassadors of different countries.

PM Modi will also perform the ground-breaking ceremony for the building, which is expected to be completed by 2022 at an estimated cost of Rs 971 crore.

The new building is an intrinsic part of the vision of ‘Aatmanirbhar Bharat’ and will be a landmark opportunity to build peoples’ Parliament for the first time after independence, one which will match the needs and aspirations of ‘New India’ in the 75th anniversary of independence in 2022.

Lok Sabha Speaker Om Birla had earlier said, “The existing temple of democracy is completing 100 years... It is a matter of pride for our countrymen that the new one will be built by our own people as a prime example of Aatmanirbhar Bharat.” “The new building will showcase the cultural diversity of the country. Hopefully, in the 75th year of Independence (2022), Parliament session will be held in the new building,” he said.

The event will begin at 12:55 pm and the foundation stone will be laid at 1 pm, officials said. PM Modi will deliver his address on the occasion at 2.15 pm.

The New Parliament Building will be constructed nearly a hundred years after the foundation for the existing Parliament was laid by the Duke of Connaught on February 12, 1921.

The Parliament House is a massive circular building measuring 560 feet in diameter. Its circumference is one-third of a mile and it covers an area of nearly six acres. The open verandah on the first floor is fringed with a colonnade of 144 sandstone columns, each standing 27 feet high, lending a unique grace and charm to the building.

The new Parliament building will be modern, state-of-the-art and energy efficient, with highly non-obtrusive security facilities to be built as a triangular shaped building, adjacent to the present Parliament.