ltcg on joint development

According to section 2(47) of the Income Tax Act, 1961 the term Transfer includes and shall be deemed to have always included disposing off or parting with an asset or any interest therein, or creating any interest in any asset in any manner whatsoever, directly or indirectly, absolutely or unconditionally, voluntarily or involuntarily, by way of an agreement (whether entered into in India or outside India).
Also, as per section 45 of the Income Tax Act,1961 capital gains is chargeable to tax in the year in which transfer takes place except in certain cases.
In such a scenario, execution of joint development agreement between the owner of the immovable property and the developer gives rise to capital gains tax liability in the year in which the possession of immovable property is handed over to the developer for development of project .The receipt of consideration (share of constructed area or share in revenue) in future, does not affect the timing of the taxable event.
With a view to minimize the genuine hardship which the owner of land may face in paying capital gains tax in the year of transfer, a new sub-section (5A) in section 45 of the Act has been inserted through Finance Act,2017 so as to provide that in case of an assessee being individual or Hindu undivided family, who enters into a specified agreement for development of a project, the capital gains shall be chargeable to income-tax as income of the previous year in which the certificate of completion for the whole or the part of the project is issued by the competent authority. However, the provisions of this sub section shall not apply where the assesse transfers his share in project  on or before the date of issue of the said certificate.

Also, Finance Act 2017 has provided that the stamp duty value of land or building or both, in the project on the date of issuing of said certificate of completion given to the land owner as increased by any monetary consideration received, if any, shall be deemed to be the full value of the consideration received or accruing as a result of the transfer of the capital asset.

I find it very difficult to decypher the act.I want to know whether I can get ltcg exemption for one flat received or for both the flats.

you will get exemption for both the flat..

Now I.T act(LTCG) has changed.Now I can invest in two houses even I have already owned one house.Advise me in the this according to the latest budget passed in this year 2019.