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Accounting Treatment of Purchase of Under Construction Flat

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(Querist)
20 January 2022 Mr. A Pays INR 1 Lakh to Builder ABC for a flat which is getting constructed.
MR. A gets Allotment letter and buyer builder agreeement
total flat value is 2 lakhs.
what shall be the accounting treatment?
whether 1 lakh paid will be treated as advance or full 2 lakhs will be recorded as Fixed Asset and 1 lakh payable to the builder.
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CA Puja Sharma

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CA Puja Sharma (Expert)
20 January 2022 Treat Rs. 1 Lakh paid as an advance.
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