Property capital gain, Bought in 2002 and sold in 2025

If the property is land or building, purchased in 2002, then resident individual can get the benefit of indexation while paying LTCG tax liability over it.

It was an apartment. Will it be considered as land or building ? 

Someone was suggesting if sales value is less than 50 lakhs, there is no tax. Is it true ?

1. Yes.
2.  No. Roughly it will be 1.6 Lakhs.

Either purchase/construct new house property.

Property bought in 2002 for Rs 3 lakh, sold for Rs 20 lakh in April 2025:

• Long-term. As a resident individual (acquired before 23 July 2024), choose the lower of:

– 12.5% without indexation on Rs 17 lakh = about Rs 2.12 lakh

– 20% with indexation: indexed cost = Rs 3 lakh × 376 (FY 2025-26) / 105 (FY 2002-03) ≈ Rs 10.74 lakh; gain ≈ Rs 9.26 lakh; tax ≈ Rs 1.85 lakh.

• So the indexed option is lower (plus cess). Add transfer expenses and improvement costs (indexed). Check Sec 50C (SDV).