Treatment of land

Purchase of land and development cost shoulb be shown as direct cost.If nothing is sold at year end 

then the same should be considered as Closing stock after considering AS 2

The projects gets completed after 4 years

Whether shuld i show the land cost and development cost under Capital/Construction work in progress

If the project is of type that after completion of project ,everything will be sold out and it is your main business then it should be shown as Direct cost (Revenue Exp) ,but not Capital WIP(Capital EXP),Since it is a good/stock to the company

If the Project is Apartment /Commercial Building and the objective of the business is to rent the same after completion of project ,then the said exp is of Capital Nature(Asset to Company) and same should be shown as Capital WIP

Thanks Mr.Prasad.

yes thats the main business as it is a real estate company.