SECOND HOMES: TAX LIABILITY OR WEALTH CREATION

India’s real estate landscape is undergoing a transformation, with second homes emerging as a popular investment choice. What was once considered a luxury is now increasingly viewed as a strategic financial asset. A growing middle-class population with rising disposable income is fuelling demand for second homes. With financial stability and aspirations for wealth creation and lifestyle upgrade, many individuals are planning investing in real estate beyond their primary residence.  Kumarmanglam Vijay, Partner & Head – Direct Tax, JSA Advocates & Solicitors elaborated, “Historically, taxation of deemed rent was a deterrent to owning a second home, as only one property could be treated as self-occupied, while others were deemed let-out (if not let-out) even if they were vacant. Read more