Capital gain whether short term or long term

The gain  would be a long term Capital Gain.As per my undersatnding the  purchase  date or tthe date of posession which ever is earlier would  be considered for calculation of capital gains.From that date to the date of sale if the period of holing is 3 years then it would fall under long term gain.

As per the transfer of property act, transfer was made in the FY 2006-07 So indexation benifit shall be available and the gain shall be long term.