Commuters tend to shift from public to private transport modes due to various reasons. This results in an increased traffic volume in the urban road network. The ultimate consequence is traffic congestion which creates massive economic losses and adverse environmental pollution. To provide a feasible solution for the above problems, this study is set to examine the factors affecting transport mode choice. Factor analysis was used to identify the factors influencing the mode choice variability of the commuters. Parameter estimation is done using the Multinomial Logit (MNL) model based on the utility maximization theory. The adjusted likelihood ratio index is used to show the model fits. Also, t-statistics and the respective sign of parameters are used to show the validity of estimated parameters. The outcome of the factor analysis shows that age and occupation significantly affect the public transport mode choice under personal characteristics. For private mode choice, the contributing factors are gender, age, occupation and monthly income. Trip distance, invehicle travel time, and travel cost are significantly influencing both public and private transport mode choices. Results of the estimated parameters and elasticity analysis suggest that more commuters can be attracted to public transport by reducing the total travel time of buses.