An Intelligent Transport System (ITS) is a wide-ranging framework that influences advanced technologies to improve efficiency of transportation networks. An ITS integrated with an IoT enhances the capabilities of transportation networks. Owing to quick development of vehicles, traffic congestion during road network is major problems. Therefore, intelligent traffic control system is required to create smart transportation through optimization of vehicle route, and so on. In this paper, Cox Regressive Fuzzified Outlier Robust Incremental Extreme Learning Machine (CRFORIELM) is developed for smart ITS. The IoT technology in IT’S is used to collect traffic data, vehicle information, Parking slot occupancy data. After data collection process, proposed CRFORIELM technique includes two major processing steps namely parking slot availability detection and traffic aware route optimization. The extreme learning machine includes three types of layers such as input, three hidden layers as well as output layer. Initial hidden layer predicts the parking slot availability using Cox regression is performed. With the parking lot availability predictions, integrate this information into a route optimization algorithm. This algorithm considers the real-time traffic conditions as well as parking availability for detecting optimal route by applying fuzzy triangular membership function in the second hidden layer. Finally, nearest route path is effectively determined to minimize travel time in intelligent transport system. Experimental analysis indicates that the CRFORIELM technique achieved 2%, 5%, 10% improvement in accuracy, sensitivity, specificity and reduced error rates, route detection time by 39%, and 36%, compared to existing methods.