Parking pricing strategies are essential tools for bringing about a balance in the modal split between private vehicles and the public transport by influencing the traveller’s choice. High congestion levels are due to the travellers’ preference for the private mode of transport. Therefore, in order to bring about a better modal split balance, it becomes imperative to improve the public transit quality and also to charge a fee in the form of congestion fee or parking fee in order to check the growing congestion.