capital gain

if you had utilised entire net sale consideration received from sale of land for construction of residential property and construction is completed within 3 years from date of transfer of land then entire capital gain is exempt under section 54F.
54F provides condition for completion of construction within 3 years from the date of transfer of land and there is no condition when should the construction start
amount paid for repayment of loan will also be considered as amount utilised for construction only if loan amount was actually used for construction