CAPITAL GAINS FOR LAND OWNER UNDER JV

Hi all,

I have a land purchased in 1988 for Rs.2LAkhs. Land Area is 4800sqft.

A Developer has approached me for developing the property under Joint Venture and he agreed to pay 15Lacs in FY 17-18 and 25Lacs in FY 18-19 and also give me 2 Flats in FY 18-19.

Can you please tel me capital gains that i have to pay ? whats the point of taxation ? my tax liability will arise in which year  ?