Unlocking Land Values for Urban Infrastructure Finance : International Experience--Considerations for Indian Policy

Despite strong economic growth, investment in basic urban infrastructure -- water supply, wastewater removal and treatment, roads, and other capital-intensive systems -- has failed to keep pace with urban growth, leaving a critical urban infrastructure deficit. At the same time, urban lands in these many developing countries are among the most expensive in the world. Much of this land is owned by public authorities. Significant parts of it lie vacant, unused for public service provision or inappropriate for conversion to higher-valued economic activity. A composite public-sector balance sheet for India's urban areas would show an asset mix strong on public-sector landholdings but weak on infrastructure. This raises the following questions: Can some excess public-sector land be exchanged for infrastructure, in a manner that is politically acceptable and economically efficient? Can public land sales be a realistic source of finance for critically needed urban infrastructure investment? This paper considers the policy context that has shaped different land-disposal and earmarking initiatives, provides details about the actual workings of institutions, and examines international experience in infrastructure investment. This study contributes to the consultative process underway in India to consider strategies to unlock public land values to help finance urban infrastructure investment.

Bibliographic Details

Main Author:	Peterson, George E.
Language:	English en_US
Published:	World Bank, Washington, DC 2013-10
Subjects:	ACCESS TO INFORMATION, ACCOUNTABILITY, ACCOUNTING, ARBITRAGE, ASSET MANAGEMENT, ASSET MANAGER, ASSET MANAGERS, ASSET SALES, ASSETS, AUCTION, AUCTIONS, AUTONOMY, BALANCE SHEET, BALANCE SHEETS, BANK BORROWING, BORROWING, BUDGET, BUDGET DEFICITS, BUDGET PROCESS, BUDGETS, CAPITAL INVESTMENT, CAPITAL STOCK, CHARGES, CITIES, CLAIMANTS, COMMUNITY DEVELOPMENT, COMPETITIVE AUCTIONS, COMPETITIVE BIDDING, CONTRACT, CONTRACTS, CONVERSION, DEBT, DEBT FINANCING, DEBT SERVICE, DEBTS, DECENTRALIZATION, DEDICATED REVENUE, DEFICIT, DEPOSITS, DEREGULATION, DEVELOPING COUNTRIES, DEVELOPMENT AUTHORITIES, DEVELOPMENT BANK, DISCOUNT, DISCOUNT RATES, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ELECTRICITY, ENTERPRISES, EQUIPMENT, EQUITY, EXCHANGE, EXPENDITURE, EXPENDITURES, FEES, FINANCE, FINANCIAL ASSETS, FINANCIAL INCENTIVES, FINANCIAL MANAGEMENT, FISCAL RESPONSIBILITY, FIXED REVENUE, FUEL TAXES, FUNGIBLE, FUTURE, GOOD, GOVERNANCE, GOVERNMENT ACCOUNTING SYSTEM, GOVERNMENT BUDGET, GOVERNMENT GRANTS, GOVERNMENT POLICY, GOVERNMENT REGULATION, GOVERNMENTS, GRANTS, GUARANTEE, HOLDING, HOLDINGS, HOUSING, INCOME, INFRASTRUCTURE FINANCE, INFRASTRUCTURE FINANCING, INFRASTRUCTURE INVESTMENT, INSTITUTIONAL ARRANGEMENTS, INSTITUTIONAL SETTING, INSTITUTIONAL STRUCTURE, INTEREST, INTERGOVERNMENTAL RELATIONS, INTERGOVERNMENTAL TRANSFERS, INTERNATIONAL BANK, INTERNATIONAL INVESTORS, INTERNATIONAL SECURITY, INVENTORIES, INVENTORY, INVESTMENT ASSETS, INVESTMENT DECISIONS, INVESTMENT FINANCING, INVESTMENT FUNDS, INVESTMENT PROJECTS, INVESTMENT PURPOSES, INVESTMENTS, IPO, LAND, LAND DEVELOPMENT, LAND MANAGEMENT, LAND OWNERSHIP, LAND PARCEL, LAND PARCELS, LAND POLICY, LAND PRICES, LAND REFORM, LAND USE, LAND VALUE, LAND VALUES, LANDHOLDER, LANDHOLDERS, LANDOWNERS, LARGE CITIES, LEASE PAYMENTS, LEGAL AUTHORITY, LEGAL OWNERSHIP, LEGISLATION, LEVY, LIABILITIES, LOCAL AUTHORITIES, LOCAL ECONOMY, LOCAL GOVERNMENT, LOCAL GOVERNMENTS, LOCAL INFRASTRUCTURE, LOCAL LEVEL, LOCAL TAXES, MANDATES, MARKET, MARKET COMPETITION, MARKET PARTICIPANTS, MARKET PRICES, MARKET SIZE, MARKET VALUE, MARKETS, MASS TRANSIT, METROPOLITAN AREAS, MINISTRIES OF FINANCE, MUNICIPAL, MUNICIPAL BONDS, MUNICIPAL DEVELOPMENT, MUNICIPAL GOVERNMENT, MUNICIPAL GOVERNMENTS, MUNICIPAL OWNERSHIP, MUNICIPAL PERFORMANCE, MUNICIPALITIES, MUNICIPALITY, OPEN MARKET, OPPORTUNITY COST, OPPORTUNITY COSTS, OPTION, OVERSIGHT, OWNERSHIP STRUCTURE, PARTICIPATION, PER, PLEDGES, POLITICAL POWER, PORTS, POST OFFICE, PRICING, PRIVATE PARTIES, PRIVATE SECTOR, PRIVATIZATION, PRODUCTIVITY, PROFIT, PROFITS, PROJECTS, PROMISSORY NOTE, PROPERTIES, PROPERTY OWNERSHIP, PROPERTY TAX ADMINISTRATION, PROPERTY TAX BASE, PROPERTY TAXES, PROVINCIAL GOVERNMENTS, PROVISIONS, PUBLIC, PUBLIC AGENCIES, PUBLIC ASSET, PUBLIC FINANCES, PUBLIC GOODS, PUBLIC INSTITUTIONS, PUBLIC INVESTMENT, PUBLIC OFFICIALS, PUBLIC OWNERSHIP, PUBLIC PROPERTY, PUBLIC PROVIDERS, PUBLIC REVENUES, PUBLIC SECTOR, PUBLIC SERVICE, PUBLIC SERVICE DELIVERY, PUBLIC SERVICE PROVISION, PUBLIC SERVICES, PUBLIC USE, PUBLIC WORKS, REAL PROPERTY, REGULATION, REPORTS, RESERVE, RETURN, REVENUE, REVENUE SOURCES, REVENUES, RISK MANAGEMENT, ROADS, RURAL PROPERTY, SAVINGS, SERVICES, SHARE, SHARES, SPENDING, STATE GOVERNMENT, STATE GOVERNMENTS, STATE LANDS, STATE PROPERTY, STATES, STREETS, SUPERVISORY BOARD, TAX, TAX LAW, TAX POLICY, TAX RATE, TAX RATES, TAX REVENUES, TAXATION, TAXES, TRANSACTION, TRANSACTIONS, TRANSPARENCY, TRANSPORT, TREASURY, TREATIES, TREATY, TRUST FUND, URBAN AREAS, URBAN DEVELOPMENT, URBAN GROWTH, URBAN INFRASTRUCTURE, URBAN PLANNING, URBANIZATION, UTILITIES, VACANT LAND, VALUATION, VALUATIONS, WATER SUPPLY, urban land,
Online Access:	http://documents.worldbank.org/curated/en/2013/10/18463980/unlocking-land-values-urban-infrastructure-finance-international-experience-considerations-indian-policy https://hdl.handle.net/10986/16898
Tags:	Add Tag No Tags, Be the first to tag this record!