From Humble Beginnings: How He Bought a Rs 55 Lakh 3BHK Without Inheritance or High-Paying Job
In a world where social media often showcases sudden wealth and overnight success, a quiet home purchase in Surat has caught the attention of many. This story, shared by Chartered Accountant Nitin Kaushik on X, highlights a realistic and achievable path to wealth that is free from drama and hype.
Nitin Kaushik recently met an individual who managed to buy a 3BHK apartment in Surat, valued at ₹55 lakh, without any inherited wealth, a high-paying corporate job, or a sudden increase in income. What made this achievement stand out was the individual's disciplined and consistent approach over a period of 12 years.
When Kaushik inquired about the strategy behind the purchase, the answer was straightforward. The individual saved ₹45 lakh over 12 years and took a modest home loan of ₹10 lakh. There was no stress about EMIs or inflation, just a well-planned and steady approach to building wealth.
The wealth was not accumulated through aggressive investing or complex financial products. Instead, the individual spread their savings across recurring deposits, gold savings schemes, and small local real estate investments near their village outside Surat. The focus was on consistency and long-term planning, rather than quick gains.
Over the years, these small but consistent investments compounded quietly. The individual already owned a two-storey house and a small commercial shop in the village, both of which were rented out. These properties generated a rental income of around ₹22,000 per month. When reinvested steadily, this income alone added up to nearly ₹26.4 lakh over a decade, even before accounting for interest and property appreciation.
In addition to the rental income, the individual earned returns from recurring deposits and gold savings, which Kaushik estimated to be around ₹15 to ₹18 lakh over the 12-year period. Combined, these sources of income contributed more than ₹40 lakh to the individual's savings, all without relying on stocks or mutual funds.
Kaushik also highlighted the practical tax considerations involved. Rental income is taxable after a standard 30% deduction, and home loan interest can offer potential tax relief under Section 24(b) of the Income Tax Act. While interest from deposits and gains on gold are taxed according to applicable income slabs and capital gains rules, the long-term nature of the strategy ensured that it remained robust even after accounting for taxes.
This story serves as a powerful reminder that wealth does not always grow in dramatic spikes. Sometimes, it is a steady and consistent upward slope, built brick by brick over many years. While many people chase fast money and complex strategies, this journey demonstrates the power of staying disciplined and keeping things simple.
The key takeaway, as Kaushik shared, is not about how much you earn but about how long you can maintain discipline. Small streams, when allowed to flow uninterrupted, eventually turn into rivers. The formula is simple: consistency multiplied by patience and simplicity. And it is a path that anyone can start, regardless of their current income level.
For those looking to build wealth over the long term, this story offers a practical and inspiring example of what is possible with a bit of discipline and a lot of patience.
