Short Term Capital Gain or Long Term Capital Gain
I purchased a residential flat in a complex from a builder (under construction) on Apr 2010, Location being Kharghar, Navi Mumbai and the plot being a CIDCO plot. The agreement was registered on 15th June 2010 (1,85,860 Rs. paid as Stamp Duty on 7th June 2010). Agreement value = 33,87,400. I had borrowed a home loan from Bank for an amt of 17,17,654/-; which has been completely paid off by Jul 2014.
An upfront payment of 338,740/- was made to the builder in Apr 2010 and the remaining amounts were paid by the slab as defined in the annexure attached in the agreement (slab based payment).
The slab payments were done in: Apr'10, Jun'10, Jul'10, Aug'10, Oct'10, Dec'10,Feb'11, Apr'11,Jun'11, Sept'11, Nov'11, Mar'12, Jul'12, Jul'13, Sept'13 and Dec'13.
The possession letter given by the builder is dated 16th Dec 2013.
I intend to sell the flat now and re-invest in another property, however before selling need to be sure if I am eligible for Short Term Capital gain Tax or Long term Capital Gain tax. This will help me decide the selling price for the property. Please guide,