"If you want to invest in property, this is the best time. Property prices are reasonable and the chances of an upside in the future are greater as compared to other asset classes," Maharashtra Chamber of Housing Industry (MCHI)'s President, Pravin Doshi, said today.
With the stock-market in decline and commodity prices volatile, property has emerged as the best asset-class for investment, Doshi said.
"Home loan rates are only marginally higher than inflation. Investing in property will give a better utilisation of the Rupee," he said.
Inflation today stands at a 13-year high of 11.42 per cent and with global oil prices flaring up, the chances of it rising further are high, he said.
"With inflation rising, every Rupee a consumer spends buys less than what it did yesterday," Doshi said. In these circumstances, returns on investments in other asset classes cannot be assured, but investment in property will at least ensure that the investment does not get depreciated, he said.
Here it might be noted that even bank deposits are not proving as attractive as before, as the interest rates banks offer do not help investors in beating inflation.
It is only in the last week that several banks have started increasing their deposit rates.
