The new parliament building - the foundation stone for which was laid by Prime Minister Narendra Modi - will be at an estimated cost of Rs 971 crore.
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It will be built in an area covering 64,500 sq m, near the existing Parliament building.
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The four-story building will be triangular in shape. Its interiors will have the three national symbols - the lotus, the peacock and the banyan tree - as its themes.
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Architect Bimal Patel has said that the triangular shape of the new parliament is a reference to "sacred geometries in various religions and cultures of India".
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The new Parliament will have increased seating capacities in the Lok Sabha and Rajya Sabha with 888 and 384 seats respectively.
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The new Parliament building will have space nearby to allow MPs to meet people from their constituencies.
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The building is expected to be ready before India's 75th Independence Day (in 2022).
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Construction work cannot begin till the legal challenge is pending in the Supreme Court.
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Tata Projects Ltd would build the new Parliament building. It will overlook the old Parliament building, built nearly 100 years ago at a cost of Rs 83 lakh.
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The old Parliament building will be turned into a museum.