Capital gains exemption

Milind (-) (30 Points)

15 May 2012  

I have a residential house property in my mother's name which has been rented out to a company for the residence of its employees. We are planning on selling this property and investing in a property which we later plan to rent out to banks or restaurants as we will get higher rent. Will i get the benefit of exemption u/s 54 for this ? If not, are there any other ways to ensure exemption?