Section 54 f

Yes ,because section 54F only  requires that assessee should not have not more than one Residential HP as on the date of Investment u/s 54F and till the  the 3 yrs of investment , in your case the Res flat you are getting against partial considerationj of capital gain cannot be said as your Res HP, but as a precautionery measure( i.e. in compliance of  the condition that assessee should not occupy m,ore than 2RHPs= 1RHP+1RHP u/s 54F) you should not use that  property as Res HP and  for that you may Let out that or sale, as such you can take the benefit u/s 54F.

Anyway nice query and some other suggestions are invited.