The recent population projections by United Nations indicate that by 2030 each major region in the developing world will house more urban than rural dwellers. Furthermore, by 2050 nearly two-third of population in developing countries will live in urban areas (Montgomery, 2008). The total urban population in developing world was estimated around 1.97 billion in 2000, which is likely to increase up to 3.90 billion in 2030 and finally reach a figure of 5.26 billion by 2050 as per United Nations population projection. Under the process of rapid urbanization and modernization, one of the key challenges of recent times relates to the provision of basic infrastructural facilities to urban dwellers and improving their well-being and quality of life (Sclar et al, 2005). It was for the first time in the history of human population that more than 50 percent of population now lives in cities. According to the recent United Nations estimates, the world urban population is growing annually at the rate of 1.8 percent and is likely to outpace the overall world population growth rate of 1 percent (United Nations, 2005).