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Real estate, most preferred investment option: survey

Published & Updated as on - 2010-12-24

NEW DELHI: As far as investment is concerned, Indians like to play it safe, a survey has found. According to it, 65 per cent of working individuals in urban India prefer real estate as long-term investment option as it guarantees higher future returns and helps them stay off other riskier investment options like the stock market, equity, mutual funds and gold.

The country-wide survey, "Current Investment Patterns in working Urban Indians," conducted by the Associated Chambers of Commerce and Industry of India under the aegis of ASSOCHAM Social Development Foundation (ASDF) asked almost 1,500 directors, officers, executives, teachers, professionals in the public sector and multi-national companies and self-employed traders, lawyers, doctors and financial experts about their preferred investment options for savings.

Most respondents said investing in gold, National Saving Certificates and fixed deposits was passe and represented the "old school" of investment concepts. Real estate, mutual funds and life insurance found favour among the younger lot.

Around 975 participants from Delhi, Mumbai, Chennai, Kolkata, Ahmedabad, Chandigarh, Lucknow, Hyderabad, Pune and Jaipur approved of investing in real estate and felt that Indian real estate had huge prospects in the commercial, hospitality, retail, manufacturing, healthcare and housing sectors.

Releasing the findings of the survey, ASSOCHAM Secretary-General D.S. Rawat explained why real estate investment had so many takers: "Real estate, not only saves the working urban population from paying monthly house rentals but also provides them with tax benefits while repaying the loans along with interest component for quite long."

He added that cost escalation with growth and development in the area was another factor that attract them towards investing in property.

Of the 65 per cent interested in investing in real estate, about 40 per cent respondents preferred to invest in property in tier II and tier III cities, for these cities offer affordable and easy availability of land, coupled with better connectivity, infrastructure and other basic facilities.

About 20 per cent respondents preferred investing in gold, considering it a trusted and long lasting store of value in possession, which can be encashed any time. Only about 15 per cent respondents preferred investing in mutual funds, stocks, FDs and bonds. Source: The Hindu 13/12/10

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