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Problems and prospects of financing urban develpment in Sri Lanka with special reference to metropolitan region of Colombo

Show simple item record Dharmasiri, KV 2014-03-15T18:41:28Z 2014-03-15T18:41:28Z 2014-03-16
dc.description.abstract The study is concerned with problems of financing urban development in Sri Lanka with special reference to Colombo Iletropo'.itan Region, in which some recommendations for an urban development financing strategy in the country have been included. This study comprises of six chapters. Chapter one is evolved to an understanding of the economic b n G e of urban development in which the discuscion is pursued in the light of an appropriate definition of urban development. Urban development is a by-product of national economic growth of the country which has been examined on tho basis of " economic base model" to understand the sustainability of tirban growth. 1-^ was also found that the basic sector of the economy has been showing sluggished growth while service sector ha3 been growing at a higher rate. In this Chapter different componunts of the development were identified as commercial industrial infrastructural and environmental developments. The discussion concluded that it is necessary to accelerate the growth of basic sector of theeconomy together with the export oriented service sector to make the national economic growth aas as well as the urban growth substainable. It was shown that urban development is carried out by various agencies like private sector, local authorities and public sector. Private sector carries out urban development to a great extent by constructing dwelling houses which makes up considerable portion of urban development. The second chapter was devoted to ana^ae the problems of financing the housing of urban dewllers. It was found that although there are lending facilities available the urban poor cannot utilize these facilities owing to their low level of income and increasing land prices. Hence direct construction of of dwelling houses by public authorities for urban poor ha3 become necessary in the process Of urban development. The second chapter concluded that the income a level of the urban poor has to be improved and an economical housing strategy should be evolved. Financing commercial development ha3 discussed in the third chapter. It was found that the proposed commercial projects in Colombo ore less attractive in tena3 of profit making when compared with other investments, hence raising finance through financial institutions is difficult. Owing to the cost of constructions, viability of most projects has been eroded and required rentals for new projects exceed the market rents, even within the context of fair degree of demand for commercial development. Therefore, in order to secure the xx viability of projects the supply of commercial space has to be phased out over a economical length of time and foreign investments and domestic investments are necessary fo finance these projects. Chapter four reviews the Colombo Municipal ^ouhcil's performances in financing development of infrastructure facilities and it was found that the present revenue generating capacity of sources of revenues is inadequate. The principal source of revenue, i.e. the Annual value system is found to be a limited source of revenue as it does not have any rational relationship with the income level, space consumption and location element of properties." Therefore it was concluded that a property tax system should evolved with further relations with above mentioned elements. And m 30 it was suggested to set concessionery rate of interest for the loans borrowed by C.n.C. from Local Loans and Bevelopment *und. The exemption of U.D.A. developers from paying 80% of rates is undesirable, a3 the C.n.C. has to bear expenses related to maintenance of their areas including garbage disposal. The chapter five ha3 been devoted to appraise the financing of urban development by Government planning agencies like Urban Bevelopment by Government planning agencies like urban development authority. National Housing Authority and Greater Colombo Economic Commission. The Government agencies have a greater responsibility of financing urban development in order to achieve social and distributiona objectives a3 well. But present policies of financing urban development were well geared to act as a commercial concern, and hence qualitative aspect of the urban development is given a somewhat marginal consideration. Therefore even the available meagre resources are not being utilized to achieve social objectives of the urban development. Therefore it was concluded that that financing of planned development is necessary to achieve such social objectives. Also in raising finance the land leasing policies have to be reviewed in order to recover the infrastructure costs. Chapter six comprises of conclusions and recommendations of the study. en_US
dc.language.iso en en_US
dc.title Problems and prospects of financing urban develpment in Sri Lanka with special reference to metropolitan region of Colombo en_US
dc.type Thesis-Abstract en_US
dc.identifier.faculty Architecture en_US MSc en_US
dc.identifier.department The Department of Town and Country Planning en_US 1980
dc.identifier.accno 34086 en_US

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