Capital gain exemption under 54F for construction of flat by the builder

This query is : Open

Lakshmi Karakondu (Querist)
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06 June 2025 I've sold the ancestral property(agri land) during April 2023 and opened the capital gain account in June 2023 with nationalized bank for the sold amount .During December 2022 I've entered into sale agreement with one Builder(Gated community) to purchase residential flat, which complete the construction and handover the flat as per RERA and I am releasing the funds to builder from capital gain funds by submitting form C and form D to bank according to phase wise construction. I have claimed the income tax under 54F for the financial year 2023-24.Now in June 2025 I want go for flat registration. As I am going for flat registration after 2 years of property sale,is it eligible under 54F claim? and Sale agreement with builder does come under construction clause of 54F? My understanding is we can claim under 54F if we purchase the residential house within 2 years or construct the house within 3 years. Please guide.