With due consideration of reasonable cosmological assumptions within the limit of the present cosmological scenario, we have analysed a spherically symmetric metric in 5D setting within the framework of Lyra manifold. The model universe is predicted to be a DE model, dominated by vacuum energy. The model represents an oscillating model, each cycle evolving with a big bang and ending at a big crunch, undergoing a series of bounces. The universe is isotropic and undergoes super-exponential expansion. The value of Hubble's parameter is measured to be H = 67.0691 which is very close to H0 = 67.36±0.54kms −1 M pc −1 , the value estimated by the latest Planck 2018 result. A detailed discussion on the cosmological parameters obtained is also presented with graphs.