The odd-even formula is applicable for the vehicles being driven on roads. However, there are a large number of vehicles in Delhi, which are parked in by-lanes and housing societies in the internal areas. Let alone the innumerable parked cars in the city, which have not been driven for the past many years. The owners are not willing to sell them even. If they are sold they can be scrapped or if in a working condition can be driven by people purchasing the vehicle.
Fights over parking space have become a pain. With many families owning two or more vehicles, whether they are driven on a daily basis or not, one day will come when the cars will outnumber the populace in the city. As far as the population is concerned, the culture of one child per family or maximum two children in being followed. However, in the case of cars there is no formula. Whoever has the moolah, thinks the more the better. Nobody cares about the problems caused by multiplying vehicles. 
The odd-even formula was a success on the roads, but surely was adding to the number of vehicles being parked in the internal areas. The government needs to look into this area also. A rule imposing fine for the vehicles which are more than 15 years old and not scrapped should be initiated. This will surely lessen the burden of vehicles in the residential parking area.  
Many years back the societies allotted parks for the children so that they could play.  Now the parks have been converted into parking spaces. It is high time that citizens think over it. With the pressure of population in the city multiplying and housing societies coming up in hordes, the citizens of Delhi with the help of the government will have to come up with solutions.