Purpose Cloud computing gives several on-demand infrastructural services by dynamically pooling heterogeneous resources to cater to users’ applications. The task scheduling needs to be done optimally to achieve proficient results in a cloud computing environment. While satisfying the user’s requirements in a cloud environment, scheduling has been proven an NP-hard problem. Therefore, it leaves scope to develop new allocation models for the problem. The aim of the study is to develop load balancing method to maximize the resource utilization in cloud environment. Design/methodology/approach In this paper, the parallelized task allocation with load balancing (PTAL) hybrid heuristic is proposed for jobs coming from various users. These jobs are allocated on the resources one by one in a parallelized manner as they arrive in the cloud system. The novel algorithm works in three phases: parallelization, task allocation and task reallocation. The proposed model is designed for efficient task allocation, reallocation of resources and adequate load balancing to achieve better quality of service (QoS) results. Findings The acquired empirical results show that PTAL performs better than other scheduling strategies under various cases for different QoS parameters under study. Originality/value The outcome has been examined for the real data set to evaluate it with different state-of-the-art heuristics having comparable objective parameters.