Capital gains

you first need to find out the fair value of the property as on 01.04.2001 from a professional valuer.
after that the valuation as on that date or the actual purchase cost of the property whichever is higher needs to be indexed and deducted from the value of sale consideration.balance remaining is capital gains.
you can also claim deduction towards expenses incurred in connection to the transfer such as commission and brokerage at actual AMT paid.
you need to invest the capital gains either in another residential property at actuals or in capital gains bonds maximum upto RS. 50lacs