Long term capital gain and exemption

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Prashant (Querist)
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12 April 2018 My father aged 75 had one house property in Pune and we sold it for 45L on 31-Mar-18. The property was acquired in 1998-99 for Rs 2.70L. The total capital gain is arising around Rs 39.55 L.
I am, his son, and is buying new property in Pune having a value 90L. My father will be funding entire 46L in the new property and therefore to claim the exemption we are adding my father's name in the new flat agreement along with me and my wife. I am going for home loan and there also I will be adding my father's name as co-borrower along with my wife since he is also the owner in the new flat
In this situation, if we do not define the share in the new flat agreement, can my father be deemed to be the owner of 1/3 of property and in that case-
1. Will he be able to claim the exemption only up to 1/3 of the total cost of new flat which 30 L(new flat price 90L and 1/3 is 30L)
2. So will his capital gain be Rs. 9.55L
3. Since he is investing the entire consideration, can he claim the full exemption
3. Is it advisable to define the share in the new flat agreement as co ownership and may be his % could be 50% so that we can claim the maximum exemption
4. Can he transfer his share in my name in the future by gift deed etc.

Interest Deduction u/s 24
1. Since my wife is also co borrower and the joint owner, how can she claim the interest on the housing loan. Is she required to show the repayment from her account