SAVE LTGC ON PROPERTY

Dear Experts,

We have 1 property (Floor+Terrace) in registery docs @ New Delhi and 3 owners.

Now we are planning to sell the same which will be sold and the share of the same will be devided among 3 owners.

I am writing on behalf of 2nd owner and want to know if I purchase a property and invest the balance amount in REC OR NHAI OR RBI BONDS both things of 2nd owner share will i be able to take exemption in LTGC TAX or not?

Thanks in Advance.

Rahul