1 Also called tar and chip or oil and stone, macadam driveway can cost $1 -$3 or more a square foot on an existing driveway, or $600 -$1,800 for 12'x50'; and $2 -$4 or more a square foot for a completely new driveway with gravel base, or $1,200 -$2,400 for 12'x50'. A plain concrete driveway can cost $3 -$10 or more a square foot, or $900 -$3,000 for 12'x25' or $2,900 -$9,600 for 24'x40', while a customized concrete driveway with multiple decorative elements can cost $15 -$25 or more a square foot, or $4,500 -$7,500 for 12'x25' or $14,400 -$24,000 for 24'x40').