Currently, the transportation planners are experiencing more challenges when identifying appropriate places for allowing on-street parking spaces to ensure efficient operation. In this study, on-street parking spaces and their effects on traffic speed are studied. The interaction between approaching vehicles and vehicles parked in on-street parking locations on urban roads can greatly influence the performance of traffic networks. Parked vehicles contribute to traffic congestion in urban areas, leading to delays for approaching vehicles. The average speed of approaching vehicles at the site of on-street parking is also studied lane wise. Analysis of the traffic speed in different lanes at on-street parking locations shows that occurrence of parking maneuvers (both in and out) has resulted in a decrease in the speed of various types of vehicles including Two Wheelers (TW), Auto rickshaws (Auto), Standard Cars/Small Cars (SC), Big Cars/Vans (BC), Buses, Light Commercial Vehicles (LCV). At the locations, lane 3 (near median side) consistently has highest speed across all flow levels because of less interference with maneuverability. Lane 2 (middle lane) shows a gradual decrease in speed as flow level increases, indicating moderate congestion because this is closer in connection with both lane 3 and lane 1 (parking side lane). Lane 1, which experiences the most significant reduction in speed, decreases from 27.95 km/h at the lowest flow level to 14.69 km/h at the maximum flow level due to more maneuverable operations.