In Delhi and many cities in India during the Rāma-līlā festival,the effigy of Rāvaṇa is burnt and sometimes beaten with shoes . But actually Ravana was a great devotee of Lord Śiva and he was so big devotee that Lord Śiva gave him all benedictions saying, “Whatever you want.” Still is he described in the śāstra as rākṣasa? Why he is not described as a saintly person?
He was a brāhmaṇa by birth. He was born of a brāhmaṇa father, and he was great student of Vedas. Materially he was very opulent so that he could control even the demigods. He was so powerful personality and materially his kingdom was very much advanced. It is said that Lanka was made of gold. Actually there were many palaces. And he was a very big Vedic scholar also. But one thing, that he was against Rāma and for this disqualification he is still described as asura. Rāvaṇa thought that “I shall enjoy Sita without Rama.” But that is not possible. Everyone is after Lakṣmījī similar to Rāvaṇa’s philosophy. The whole world is after material acquisition, lakṣmī is also called Money.Everyone is after money but nobody knows that money can be properly utilized only when there is Nārāyaṇa.Lakṣmī can stay when there is Nārāyaṇa. Lakṣmī-Nārāyaṇa. You cannot keep Lakṣmī alone withoutNārāyaṇa, that is not possible. Then one will be finished like Rāvaṇa. He wanted to enjoy Sita without Rāma; therefore he was finished with his whole family.
Ref >> Srila Prabhupada Vani.