I had purchased an apartment in Navi Mumbai in Nov 2007. Agreement of sale was registered in the same month and I have paid the stamp duty and registration fee on the full value of the agreement. Possession of the apartment was given to me in July 2009. I have now sold the property last month i.e Jan 2012. Kindly let me know if the gains arising from this transaction would come under Long term or short term capital gains?
Look forward to your reply.
Thanks
Srikant