ghata

GMDA proposes 1% cess on property transfers to fund ₹845 crore SPR project

Gurugram Metropolitan Development Authority (GMDA) has proposed imposing a 1% user charge in the form of duty on property transfers in sectors along the Southern Peripheral Road (SPR) to fund the project. The SPR project has been delayed due to funding issues, but GMDA said that the entire tendering process has been completed and the high-powered committee chaired by the chief minister will allot the contract soon. The cost of the project is INR8.45bn ($115m) and different modes of funding will be used. The authority said that 37 developing sectors are along the SPR and an estimated INR3.25bn can be collected in three years.