Take second home loan only if income supports it

Can an individual take two home loans for two different residential properties at the same time from the same financial institution?
Under the provision of the Income Tax Act as well under the banking laws, there is no restriction as to how many properties you can take on a housing loan or the number of properties a person can own. The loan on the second property will be available provided your income is sufficient to justify repayment of both the loans. The tax treatment is also different where you own more than one property. Please note that owning two properties has several income tax and wealth tax implications, but there is no bar on such ownership or taking of such loans.

The writer is CEO, Apnapaisa.com, an online marketplace for loans, insurance and investments. He can be reached at
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