In this paper, we show that given a weighted, directed planar graph $G$, and any $ε>0$, there exists a polynomial time and $O(n^{\frac{1}{2}+ε})$ space algorithm that computes the shortest path between two fixed vertices in $G$. We also consider the {\RB} problem, which states that given a graph $G$ whose edges are colored either red or blue and two fixed vertices $s$ and $t$ in $G$, is there a path from $s$ to $t$ in $G$ that alternates between red and blue edges. The {\RB} problem in planar DAGs is {\NL}-complete. We exhibit a polynomial time and $O(n^{\frac{1}{2}+ε})$ space algorithm (for any $ε>0$) for the {\RB} problem in planar DAG. In the last part of this paper, we consider the problem of deciding and constructing the perfect matching present in a planar bipartite graph and also a similar problem which is to find a Hall-obstacle in a planar bipartite graph. We show the time-space bound of these two problems are same as the bound of shortest path problem in a directed planar graph.