Hyderabad: Property owners will have to shell out more money in order to meet the tax hike, proposed by the Greater Hyderabad Municipal Corporation, on residential projects. The tax hike will come into force from the financial year 2012-2013. Citizens expressed their concern over the unexpected tax hike that would fall heavy on their pockets. Property tax, to be levied, has been altered based on decisive factors like property type and rental value. The Greater Hyderabad Municipal Corporation has presently levied a tax of 50 paise to Rs. 1.25 per sq.ft. Whereas commercial spaces pay somewhere around Rs.5 to Rs 20 per sq.ft. There hasn’t been a revision in property taxes since 2000. Official powers to revise tax structures, within a jurisdiction, lies with the Commissioners of respective Corporations. According to sources, plans to revamp existing tax structures have already been communicated to the Municipal administration. The tax revision has invited unaffirmative response from the public. Citizens feel that the corporation is less inclined towards improving the vital civic infrastructure. Instead it has shifted focus on unwelcoming plans of hiking property taxes.займ на карту без отказов круглосуточновзять кредит онлайн