Section 54

One has just sold his house and he earned capital gain therefrom and wants to acquire the flat, which would be used as his residence, now that flat is in under construction and the same will be completed within period prescribed u/s. 54  (i.e.3 years). So Can he deposit the Cap. Gain in The Capital Gain A/c. to claim the deduction U/s. 54?

(Main Point to be considered is that flat to be constucted is by anyone else and not by assessee himself.)