Jaipur is a very fast growing metropolitan city which has recorded exponential growth of population in the last four decades, ranking 11th in the list of Indian mega cities with a population of 3.5 million and annual growth rate of 4.5%. The growth of vehicle population in Jaipur is very alarming. The public transport system is very weak and this is propelling the growth of individual modes of transport. The economic activities are congregating and intensifying in the walled city of Jaipur as a result of which a large number of passenger and goods transport trips originate and end in the walled city. This situation is warranting the need for adequate parking facilities and appropriate management policies, if the activities of walled city are to sustain. Parking is an important issue inside the walled city and an emerging one outside it. This paper aims at studying the existing parking problems and their causes, and management in the walled city. Being the major hub of commercial activities in the city, a tourist centre and a densely populated region, the land utilisation inside the walled city has reached its zenith and no further scope of space creation (increasing the supply) is left to deal with the rising demand for parking in this area. The paper therefore explores the question–Can an efficient price mechanism and better management practices improve the conditions of current parking needs in the city. Keeping in mind the time period of my research and the huge area of the walled city, I sampled down my study to Johari and Bapu Bazaars. These are two very vibrant areas of the Walled city and are frequently visited by both locals and tourists alike. Besides, the construction of the multi-level underground parking at Ramniwas Bagh close to these areas gave me the opportunity to study the parking management in perspective of future response as well. My research methodology comprised collection of secondary as well as primary data. Secondary data involved literature review of past studies in this field while primary data collection was done in three different ways. In order to find alternatives for parking problem in this area I also studied different international best practices in light of their application under the current circumstances in the Walled City. Keeping in mind the development plans that are under process, like the mass public transport system spearheaded by the upcoming Jaipur Metro, I explored both short-term and long-term possible solutions for this problem. Learning from other countries pointed that the conventional approach of supply creation to meet the growing parking need is not a pragmatic solution in the long run. In order to address the parking problem we should focus on discouraging the parking demand. This can work in tandem with a good public transport plus demand-responsive parking prices. This paper presents the surveys carried out to assess the parking demand and supply within the walled city of Jaipur. The private sector participation to meet the projected demand by implementing parking management and pricing policies is also illustrated in the paper.