Capital gains

I think the date of registration would be your date for cost of acquisition and any payment towards comleting the flat till possession would be treated as your cost of improvement.

Date of cost of acquisition would be considered as date of registration or date of possession whichever is earlier. 

your date of registration is date of acquisition. For long term, it must be held for 3 years. In your case it's from July, 09 to Dec '11 so it will be short term only

Dear Neil, you mean to say that if I sell the flat after July 2012 the benifits shall be treat as long term capital gains ???

yes sir.

I THINK

DATE ON WHICH POSSESSION OF PROPERTY IS GET, IS DATE OF ACQUISITION.

BUT

IN YOUR CASE SINCE THE PROPERTY HAS ALREADY BEEN REGISTERED IN JULY 2009 WITH YOUR NAME, THIS WILL BE TREATED AS DATE OF ACQUISITION.

Date of acqusation is 

1. Date of Reg  or 2. Date of  possession whichever is earlier 

But  when u take possession (option 2) there must be part / full payment or agreement to sell between parties....!!!!!!!

Dear Phani - The last instalment to the builder is given when the possession is taken.... Does it makes a difference in the acquisition date ????