No, you cannot transfer your home loan from one property to another in India. If you have taken a loan for one particular property, it is not possible to shift it to another property that you wish to buy.
Some alternative options would be:
1. If you have found another property that you want to buy, you can apply for a second home loan if you are eligible for the same. All you need to do is check your eligibility against the eligibility of the lender you wish to borrow from and see if you can qualify for the same. It is possible to get a second home loan if you have a good credit score and have the income to repay both your loans. Creditworthiness and repayment capacities are checked by the bank before issuing a loan. So, this would be a good alternative option.
2. If you only wish to buy the second property you want, then you can sell off the first property that you took the loan for. With the amount received, you can settle your first home loan and take a new home loan for the other property that you wish to buy. This can be convenient if you only want one of the properties or do not have enough money to repay another home loan at the same time.
3. You can transfer your home loan to another lender who offers lower interest rates and better services. This is very beneficial if you have a long tenure left on your loan and if the interest difference offered by the other lender is much lower than your current interest rate. You can save 5% to 8% on EMIs by doing so. You can then finish repaying your current home loan with ease and apply for the second home loan for the other property or house that you wish to buy.
To apply for a home loan balance transfer, click here.