We propose a futuristic “E-Parking” system for an urban environment. The system allocates and reserves an optimal parking space based on the driver's cost function that combines nearest to destination and parking cost. It also allows the customers to view the parking status. The system is developed because the problem of congestion and collision of the vehicle in parking area is increases day by day with population. Therefore the project aimed at solving such problems by designing a web based system that will enable the customers to make a reservation or booking of available parking space before one hour prior to his expected arrival. The customer can pre-book a slot in the area he desires if it is available. The proposed project is a smart online parking booking system that provides customers an easy way of reserving a parking space online using web portal. Customers can view various parking spaces and select nearby or specific area of their choice to view whether space is available or not. If the booking space is available, then customers can book it for specific time slot this system provides an additional feature of cancelling the bookings.