The Srinagar administration Wednesday took possession of 3 kanals of land at city centre's prime Residency Road area.Soon upon its possession the land at the heart of the Srinagar city was earmarked for developing a car parking space.The land was taken over from the possession of the State Bank of India business unit located there.The possession of the land followed urgent instructions therefor by Deputy Commissioner Srinagar Dr Shahid Iqbal Choudhary.Dr Shahid who is also the CEO Srinagar Smart City Limited said a modern car parking space will be developed at this site adding that the project will be funded under the Smart City project.Meanwhile concerned authorities are under strict instructions to initiate retrieval proceedings of all encroached State or common land in the city — which it was said will be utilised for development as parking spaces wherever feasible.