Section 54F query: Sale of property to close house loan of new property

Please help understand if Sec 54F rebate be applicable on IT for FY 2024-25 assuming the current tax rules remain same. 

Person registers under construction property A in Dec 2021. He is currently in self owned property B. Possession of property A is on Oct 2023. He takes home loan to fund the new property in 2022 and pay slab wise installments.  Post possession, he sells off current flat B with LTCG of say 40Lakh. Sale price = 85 Lakh in FY year 2024 - 2025. Can he repay his outstanding home loan with this money and claim rebate on section 54F?

Thanks in advance.