LTCG exemption on sale of plot

Dear sir

• I am planning to buy a flat ( under construction, possession will be after 12 months)in February through bank loan. Also planning to sell my plot after 1 year. Capital gain raised from plot sale whether can I use to repay the bank loan??

If your reply is NO then request your explanation on one of the following condition for LTCG “The new house has to be bought one year before  or two years after the sale of transfer.” Request your explanation on flat purchased one year before transfer of sale. That means purchased home one year before the sale of transfer through bank loan .

• Also I am having one home and one site in my name. I thing I am eligible for LTCG since I have only one residential house

Thanks in advance