Victoria plans to generate about $1.6 billion by developing government-owned land and an additional $800 million from a car-park levy starting in 2035, to contribute to SRL funding.

Premier announces a $6.7 billion contract award to TransitLinX to build six SRL East stations and rail infrastructure from Cheltenham to Box Hill, forming the largest component of the $34.5 billion Suburban Rail Loop project.

A developer charge starting at $11,350 per new dwelling in SRL precincts from 2027, rising to $33,924 by 2032, is expected to raise about $2.9 billion; these charges apply to new homes in SRL precincts, not existing properties.

The plan faces skepticism from Infrastructure Australia about Victoria’s ability to raise $11.5 billion via value capture, with the Albanese government already committing $2.2 billion to the project.

The government outlines funding to cover one-third of SRL East construction costs over 40 years using value capture mechanisms and new charges on developers and landowners.

Existing land tax within the six SRL precincts will be redirected to fund SRL construction, estimated at about $5.75 billion, with windfall gains taxes contributing roughly $450 million.