How many flats or houses can one possess in one's name?

74 votes

As per the law in force in India, there is no specific limit on the number of flats and houses that an individual or a couple can own. However, the number of properties that a person can acquire may be subject to various legal and financial implications such as taxation, stamp duty, and registration fees.

1. The ownership of the property is determined by the title documents, and the individual's name mentioned in those documents is the legal owner of the property. An individual can hold any number of properties in their name, subject to compliance with applicable laws and regulations.

2. Similarly, there is no specific limit on the number of flats and houses that a wife can possess in her name separately. The ownership of the property is determined by the title documents, and the legal owner of the property is the person whose name is mentioned in those documents.

3. Husband and wife can jointly own any number of flats and houses subject to compliance with applicable laws and regulations. The joint ownership can be either in equal or unequal shares, as agreed between the parties. In the case of joint ownership, the legal ownership of the property is determined by the title documents, and the share of each party is mentioned in those documents.

LawRato LawRato

754 votes

There is no restrictions on possessing any number of flats and houses,either under any Civil Law or under the provisions of Indian Income Tax Law,1961.
Prior to 2016-17 one had to pay Wealth Tax,if the total valuation of houses and other assets exceeded 30 lakhs,but now it has also been abolished.
The only thing is that if u own multiple houses and all are occupied by you,for tax purposes only one can be treated as self occupied ,and for all other houses notional fair rent will be assumed and be taxed accordingly.However if all are let out then one will be treated as self occupied ,(and there are benefits of tax in self occupied property)and on the rest tax will be calculated on actual house rent received.
But if all are let ou

Advocate M W Zaman LawRato

129 votes

In India, there are no limitations on the number or types of properties that an individual may own. There are some rules in India for purchasing property after you have sold the property. Capital Gains Tax is one of them.

Advocate Chikirsha Mohanty LawRato