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.