regarding 54f

1. Sec 54F comes into place only when there is a sale of a capital asset other than residential house and subsequently purchase of a residential house, then the same will be allowed as exemption u/s 54F. 
2. However, the exemption u/s 54F will be in proportion to the sale consideration and investments made. (SC/Invest) 
3. In your case it is a sale of a vacant plot which is not a residential house and subsequently purchased a residential house, thus it will qualify for exemption u/s 54F. 
4. Make sure the purchase was made within a period of 2 years from the date of sale. 
Please correct me if the above solution has an alternative view.

1. One of the pre-condition for claiming exemption u/s 54F is that assessee should not own more than one residential house at the time of transfer of original asset. 
2. In this case, you own only one residential house and thus satisfy the condition of "not more than one residential house". 
3. Exemption u/s 54F can be claimed in this case, proportionately to the investment made in the new residential house. 
Please correct me if the above solution has an alternative view.