Band B higher level costs will increase from £110 to £140 with lower level rates up from £60 to £90.
Rhydian said: “Just like many of our motoring bills, the cost of penalty charge notices (PCNs) is an extra strain on the pockets of drivers.
“And with the cost of parking tickets set to increase in parts of London, drivers should be even more vigilant when picking a parking. For many, confusing parking signs are the reason drivers get stung.”
The updates will also see bus lanes and moving traffic penalties increase from £130 to £160.
Likewise, motorists will now have to pay £100 to release their car from a wheel clamp instead of £100.
Getting a car out of the pound will also cost more with bills rising from £200 to £280 later this year.
The Secretary of State for Transport is set to review the Mayor’s decision in February before further steps are taken.
According to the Mayor’s Office, the planned implementation stage is set to get underway in April 2025.
The new fees were pushed by London Councils after boroughs claimed that the deterrent of the current penalty charges was no longer sufficient.
It comes as the number of people receiving penalty charge notices has risen by 50 per cent over the past 12 years.
A statement read: “The Mayor approves the proposed changes to parking and traffic enforcement penalty charges, requested by London Councils’ Transport and Environment Committee; and notifies the Secretary of State for Transport, in writing, of the proposed changes.”