LTCG on property held for 40 years

This discussion addresses Long Term Capital Gains (LTCG) tax for a property purchased in 1987 and planned for sale in 2025-26. The core question is whether the initial cost for tax calculation should be the actual purchase price from 1987 or the Fair Market Value (FMV) as of 01.04.2001, especially when indexation benefits are not available. Clarification is sought on which cost basis is most advantageous for the seller, with a mention of potential benefits under Section 54F.