Land offered for development & it's treatment

B RAMA KRISHNA (Assistant Accounts Officer (Retd) in Electricity Department )   (106 Points)

04 August 2019  
suppose 200 yards land purchased long back for Rs.10,00,000/-
now it was given for development at a consideration of two flats out of 12.
as a result I would be the owner of just 70 yards undivided portion.
flats not sold & want to keep on forever.
builder selling flat for 70 lakhs each.
Is there any problem on account of capital gains?