Can i claim exemption in capital gains tax if i have more than 2 residential properties

i have 4 nos residential properties flats in different cities. i stay only  in 1 nos. property (permanent residence). The other 3nos residential properties are given on rent. The rent income is shown under head ' income from house property'. i also own a residential open land /.plot which i intend to sell in august 2021The capital gains is less than Rs.2 crore.i hv already purchased a residential farm  plot in march 2018. The farm plot converted into non agricultural land in jan 2020. i intend to use the sale proceeds from sale of open residential plot in constructing a residential farm house. since all other residential flats are given on rent can the " mehendi farm " case law applicable

https://cleartax.in/s/invest-multiple-capital-gains-on-buying-new-house-property

Replies (1)
As per Section 54F the following rules apply
1. You can sell your capital asset and utilize the capital gain within one year before or two years after the date of such transfer or within a period of three years constructed , one residential house property.
Where the amount of capital gain is upto rs. 2 crores, the assesse may at his option purchase or construct two residential houses in India .
However, this option can once be exercised in lifetime.Sec 54(1)

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