Corpus fund received from builder

Invest in some other immovable property immediately. An increase in the value of a capital asset (investment or real estate) that gives it a higher worth than the purchase price. The gain is not realized until the asset is sold. A capital gain may be short term (one year or less) or long term (more than one year) and must be claimed on income taxes. Long-term capital gains are usually taxed at a lower rate than regular income. This is done to encourage entrepreneurship and investment in the economy. 

It is taxable if it exceeds the limit allowed under exemption.

Dear Sir

Mhada Colony in Mumbai going for redevelopment. Builder is offering Rs. 20.00 lacs as corpus fund to existing members individually. 

Whether it will attract income tax  or  it is exempted?????.

If it is taxable at what rate it will be taxed ????