Section 54 income tax act 1961

the assessee has purchased the old residential house (ground floor constructed) in 2 years & 1 month time from the sale of his residential house. Now he is reconstructing that new residential house property majorily altering the ground floor & constructing new Ist floor on it. The construction will be completed before completion of 3 years from the sale of residential house property.

Whether this will be covered under the construction of house property with in  3 years from date of the sale of residential house property???

please help / reply ...urgent