India, March 22 -- Budget 2025 had some good news for homeowners and homebuyers. The changes proposed in the budget will come into effect on April 1, 2025. We examine the impact of these changes.

"Presently, the annual value of a self-occupied property is considered as NIL. If a homeowner does not occupy the property for specific reasons, i.e., due to employment or business or profession carried out at any other place, then the annual value of an additional property so occupied is also considered as NIL as per Budget 2025, which was not the case earlier," says Hemal Mehta, Partner, Deloitte India.

This amendment is a welcome relief for home buyers. It will effectively let homeowners own two self-occupied properties without any additiona...