Property sale , and the Long Term capital gains.

1. Yes, you can

2. You can buy 2 properties, the option is available once in lifetime.

3. Not mandatory.

Thanks for responding , Tax Experts.

Couple of follow up questions:

4. If I already have couple of houses, Can I still use my capital gains to purchase two more houses, since my capital gain is less than 2 Cr.

5. I had sold an independent house. So, Can I purchase apartment rather than an independent house with the capitals gains ,and also one which is under construction, or should I need to purchase only a ready to move apartment or the one which can be handed over within 3 years.

Since it is a builder constructed apartment, and we don't have control over the builder timelines, I am tempted to not go for builder's under construction apartment. Is my understanding correct.