Municipal bodies need to tap bonds, ad fees to fund development of cities: JLL

Municipal bodies will have to find new ways to raise funds for development of cities, property consultant JLL has said and suggested that options like bonds and advertisement fee could help generate 30 per cent of the capital required.

In its latest report Municipal Finance: Funding Urban Development in India', JLL said that over 140 cities can raise development capital through the issuance of municipal bonds.

Municipal bodies have to find new ways of raising capital to sufficiently fund their endeavours, it said. "A solid financial structure is essential to the success of cities in meeting the growing needs of urbanisation."