New Delhi, Sept. 19 -- There is no general legal restriction in India on the number of residential properties a person can own. Similarly, banking regulations do not prescribe a fixed limit on the number of home loans an individual can take. A person can also claim eligible tax benefits on multiple home loans, subject to the applicable conditions and limits under the Income Tax Act.

However, tax rules do place restrictions on how many properties can be treated as self-occupied and on the amount of loss from house property that can be adjusted against other income in a financial year.

An individual can take multiple home loans as long as the lender is satisfied with the borrower's income, credit profile and ability to service the loans. ...