Traditionally, the tools to ameliorate inequality have been progressive taxation, the provision of public health and education as well as a safety net. These are still useful in the context of increased land scarcity. 

As pointed out by Santiago Bazdresch Sir, the option available in a rather adverse situation (rising property prices) some progressive taxation systems alone can provide relief to the poor and hence bring about balanced and equitable development. Using the extra revenue earned from higher taxes levied on the rich some concessions / subsidies need to be provided to the poor.

Dr. MANOJ P K, FACULTY MEMBER, CUSAT, KERALA, INDIA  

Thanks for the informative answer.

But this raises another concern of efficiency in tax system where bulk of the economic activities are unreported or under-reported given the prevalence of informal economy in many developing countries.  

In addition to using progressive taxation, infrastructural development targeted at the rural population which accounts for about 60% of the poor in developing countries will contribute to pro-poor growth