54f exemption

Section 54F precribes undermentioned conditionsto claim exempiton

1) There should be long term capital gain other than residential house property

2) The amount  should be invested in a rsidentail house property in India (changed in budget 2014).

3) The assessee should not possess more than one house property at the time

of this investment.

4) Exemption amount would be =Amount invested*capital gain/net consideration.

In your case as assessee already holds more than one house property so exemption would not be available under this section. 

Thank you.

But as I mentioned, The propery is a godown and a shop bith let out and the income is chageable under house property income but both are not meant for residential purpose. Still the exemtpin cannot be claimed.?

You may claim exemption under section 54F.

However ensure that the residential property in which amount to be inveted should be in INDIA.