Investment Strategy to avoid Capital Gain in case of Purchase and Sale of House Property

Case Scenario:

2 Houses to be sold, owned by a single owner.

1 House – 100% Ownership – 2.6 Cr Sale value (Sale in FY 24-25, Purchase in FY 85-86 for 2 Lakhs)

1 House – 50% Ownership – 2.6 Cr Sale value (Sale in FY 25-26, Purchase in FY 01-02 for 12 lakhs).

Investment to be made in 2 houses.

Questions:

1. Can investment be made in 2 houses? If yes? What conditions are to be fulfilled, or which provisions of Income Tax are to be adhered to?
2. What shall be the Investment strategy to avoid or decrease minimum capital gain tax?
3. Maximum amount of investment to be made?
4. Amount of minimum capital gain tax to be paid or No tax paid?
5. Can Indexation be claimed ?