Long term capital gains tax

Hello,
I am an NRI and wish to solve following queries pl...
1. I have sold a residential apartment in New Bombay bought in 2003 for Rs. 588600/- (with income from abroad) and sold it in Dec 2009 for Rs 3000000 . How much Long term Capital Gains tax i will hv to pay?
2. What is the maximum duration for an NRI to buy another residential property in order not to pay the income tax..it is 06 months or 12 months??
Regards
 
vinay

Ur Capital gain works out to around 22 lakhs.on which tax wud come around 4.5 lakhs.If u invest in new house within period of 2 years an amount exceeding 22 lakhs than whole capital gain tax shall be exempt.U will have keep the fund in Capital gain a/c scheme for purchase of new house