Now, levy on property to fund expressway
NEW DELHI: The government is looking to tap into real estate demand to fund a new expressway project amid a slowdown in highway construction. It is exploring the possibility of financing the Rs 12,000 crore greenfield Delhi-Jaipur expressway project through a 2% surcharge on commercial and residential properties that come up along the 260-km project. The surcharge will be levied on the stamp duty that property buyers will pay to Haryana and Rajasthan governments at the time of registration. This levy — which is expected to generate Rs 5,000 crore — will be in addition to the toll that commuters pay.