Exemption u/s 54f

Sir,

In the FY 2015-16, one urban land is sold for value Rs.400000/- purchase in the FY 2011-12 for Rs.150000/-, after receiving the sale consideration the same amount is been used for additional construction in existing residential building (have only one residential building).

Can we claim exemption from long term capital gain u/s 54F?

Thanks

Vikas