>India Property (HSBC)

INDIA PROPERTY SECTOR

Demand revival efforts unlikely to show
results in a hurry

# Fiscal stimulus unlikely to help property
markets in the near to medium term

# Changing housing finance dynamics
could further delay recovery hopes

# Reiterate our negative outlook on India
property market. DLF and Unitech –
both rated UW(V) – are our top sells

India property dynamics

# Near-term benefits unlikely, as customer willingness to buy is low

# HFCs are gaining market share from banks despite exercising
pricing power, but have limited ability to increase the market

# New launches to remain affected over the next two quarter

To see full report: India Property