Gift deed

What is the share of interest of your brother and mother in the said propety ?

Is it a long term assets, eligible for claiming exemption, by investing  in a new residential house property ?

Then, transfer the interest of your brother in the property, to your name, by way of gift deed. Check the stamp duty payable to concerned registering authority, who is registerign the property. In most of the states, it is very  nominal, in case of  gift of property within the family members. Then, yourself and your mohter can sell the property and invest the proceeds in a new residential house to get the exemption. Then, both of you can claim exempiton. Period of  holding of the property by your  brother is also considered for  the period of holding of the said property.

perfect opinion sudhakar ji