The PPRG completed and submitted the final report for a project for the Thirteenth Finance Commission, Government of India, in January 2009, on the potential of land as a municipal financing tool, taking the cases of Bangalore, Ahmedabad, Jaipur and Kolkata. The team studied the institutional arrangements for land use between the urban development authorities and municipal corporations in the cities and found that the responsibilities are often fragmented and sometimes unclear. The urban development authorities, being state government entities, are much better endowed with resources than municipal corporations. It is found that if revenues from land leasing and sales by the urban development authorities were to accrue to municipal corporations, there is no clustering around any measure of central tendency and there is a huge range in the addition to municipality revenues that could result. Specifically, the team finds that there could be an increase in municipality’s total revenues to the extent of 33 percent, own source revenues to the extent of 90 percent, and property tax revenues to the extent of nearly 930 percent, should revenues from land leasing and sales by the urban development authorities accrue to municipal corporations. In all cities, revenues from land leasing and sales are put to productive use given a majority is spent on capital projects. There is also enough local control over resources to be spent. Public private partnerships relating to land are more common with urban development authorities than they are with municipal corporations. While the team’s empirical findings are uncertain with respect to the impact of land lease or sales upon revenues, a general observation is that outright sale of land is more conducive for revenue potential than leasing. Finally, an incidental finding is that urban development authorities allocate small portions of their land than is required, for affordable housing for the urban poor.