September 17, 2012 / 7:18 AM / 5 years ago

MARKET EYE-Indian property shares rally on retail FDI action

* Shares of Indian property developers rally on hopes the
government's move to allow foreign direct investment in
multi-brand retail chains will boost demand for commercial
property. 
* Property developer DLF rises 5.3 percent, while mall
operator Phoenix Mills gains 10.6 percent on hopes the
government move might lead to increased occupancy in its
existing facilities. 
* Real estate companies Nitesh Estate, Unitech
 and Oberoi Realty advance between 2-5
percent each. 

 (manoj.dharra@thomsonreuters.com)

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