sir, my brother inherited in march 2011, a house property on a/c of death of his wife..
in sep 2011 , he sold his own residential land of 1800(60*30) sq feet splittig into 1200 , 600 sq feet by two sale deeds registered on the same day.
with the cap gains by the sale of the above land ,can he buy one flat each in chennai and bangalore ?
please reply.
if only one house property is possible , can time limit of 3 years be availed by getting a undivided land share registered by a builder who builds flats by entering into a joint venture with a land lord and assures completion and handing over possession within 3 years from the date of sale of the original asset.
