Capital gain for residential house property

Mr. A Ordinary Resident, wants to sell his Residential house for Rs. 30,00,000/- in March,2014. For which he had

• bought land in 1994-95 in Rs. 10,000/-
• Constructed Ground floor in 1999-00 Rs. 4,50,000/-  
• Constructed First floor in 2004-05 Rs. 2,75,000/-

Now, he will be purchsing another Residential house, one month ago(february, 2014) prior to selling his house for Rs. 15,00,000/-

1. How capital gain is to be calculated on this?
2. How much amount he should invest in Bonds for tax exemption?
3. The documentation dates should be considered for sell/purchase or possession dates?

Thanks in Advance