Tax on capital gain

Hello experts ,

I bought a flat in Navi Mumbai (Maharastra) in June 2009 at 20.5 lakhs rupees with home loan of 17Lakhs. Now I am planning to sell this flat at 45Lakhs (by Dec 2012). I am planning to reinvest this amount by buying  a five year old flat  in navi Mumbai at 38Lakhs (by Jan 2013). I have been benefited with the 80c tax exception for home loan interest paid for last three years.  I would like to know whether the tax for long term capital gain is applicable for me or not? Or is there any other tax I will have to pay during this FY becoz of this transaction ? 

thanks 

Ranjit