Rural water supply sector is urging for sustainability for long time. Till now sustainability is a dream. Enormous efforts for obtaining sustainability become fading due to improper selection of management model for delivery of water in rural areas. Demand driven approach, community participation, community management of services are well known and widely applied in the sector. Community management has proved itself as a good tool for short term and simple point water source management in rural areas. With the advent of technology and due to desire of rural community for more improved services, water supply sector seeks for new models like private or other form of hybrid management. This article attempts to review the merits and demerits of both community management models and private management models in line with sustainability concept. This paper further conceptually provides ground of selection of appropriate management model for sustainability based on the reviewed literatures.