NRI Query: Capital Gains Tax Exemption under Section 54 for 3rd Residential Property

I am an NRI seeking clarification on Long-Term Capital Gains (LTCG) tax exemption under Section 54 of the Income Tax Act. I would appreciate your expert guidance on my specific scenario:

Scenario Details:

• Asset Sold: Residential house property in India (held for >24 months, thus treated as a Long-Term Capital Asset).

• Residential Status: I am currently an NRI.

• Existing Assets: I currently own two residential properties in India.

• Proposed Investment: I intend to reinvest the Long-Term Capital Gains (LTCG) into the purchase of a 3rd residential house in India.

My Questions:

1. Eligibility: Does my existing ownership of two residential properties disqualify me from claiming exemption under Section 54 when selling a residential house? (My understanding is that Section 54 does not have a "number of houses owned" restriction, unlike Section 54F—please confirm).