As many readers must understand, titles of poems, stories and novels are never afterthoughts.  They are integral clues into the concepts in the work. This story is no exception; it defines the idea of a home and its importance.

Basically, Phatik is an boy who enjoys popularity among his friends and a vast expanse of land in which to play and grow.  He has a family and a home.   Unfortunately, Phatik does not realize what he has until it is gone.  He is rude to his mother, antagonizes his brother and continually tries to maintain his "regal dignity" among his friends.  Only when it is too late, and Phatik has been sent to live with his uncle and his family, does he realize the value of his home.

One aspect of the title refers to the physical ideal of a home.  This includes the geography, the physical structure, the family members and the culture.  Phatik, once he moves to Calcutta, understands how much he misses his rural village. He longs to return home and is promised this homecoming at the holidays.  

Tagore describes Phatik in Calcutta as "a stray dog that has lost his master."  Suddenly he is unwelcome and unloved.  He does poorly in school, has no friends, and nothing to do but dream of home.  Ironically, it is when Phatik becomes critically ill that he decides to physically go home.  However, his illness gets the better of him, and he can only suffer in his uncle's home dreaming of his own.  

At the sight of his mother from his deathbed, he utters, "Mother, the holidays have come."  This ambiguous line is significant because it represents being reunited with his mother, who obviously loves him, and it represents death - the other homecoming.