New Delhi: Prime Minister Narendra Modi will lay the foundation stone for the brand new Parliament building on December 10, Lok Sabha Speaker Om Birla announced on Saturday after formally inviting the PM for the event. The new structure, part of the Central Vista redevelopment project, will be spread across 64,500 sq metres, replacing the existing 93 years old Parliament house. Also Read - 'Absolutely Helpless': Delhi's Aakash Healthcare Left With 90 Mins of Oxygen, Seeks Immediate Help

The ceremony will be attended by leaders and representatives of all parties either physically or via virtual mode. Also Read - On Oxygen Support, AAP MLA Tweets Emotional Video From Hospital Appealing Centre to Provide O2 to Delhi | WATCH

“We started the journey of independent India in the old building, and when we complete 75 years, we will have the session of both Houses in the new Parliament building… It will not be a building of bricks and stones, it will be the fulfilment of the dreams of 130 crore people,” Speaker Om Birla noted. Also Read - 'Thankful to Centre But...' CM Kejriwal on Oxygen Crisis at Delhi Hospitals

In September this year, the Tata Projects Ltd won a contract worth Rs 861.90 crore for the construction of the new building on a bid of Rs 865 crore. The estimated cost of the proposed Parliament is expected to be about Rs 971 crore.

Notably, the new Parliament building is a part of Prime Minister Narendra Modi’s plan to rebuild the central Vista in New Delhi that houses iconic buildings including the Parliament, Rashtrapati Bhavan, the Prime Minister’s official residence, and the India Gate.

The new building will come up at plot number 118 of the Parliament House Estate. It will be designed as ground plus two-storey triangular structure at an estimated cost of Rs 940 crore. The first look of the Parliament confirms reports that the national emblem of India will sit atop on the roof of the new building.

An adjacent building, which will come up on the site where Shram Shakti Bhavan sits currently, will be connected via an underpass and have rooms for all MPs.

Birla also said that the existing Parliament building will be conserved as an archaeological asset of the nation.