Ltcg / under construction flat / selling before or after possession ?

Sheryl Aggarwal (Querist) 23 July 2012 This query is : Open
I booked from builder under construction flat in Aug 2006 . It will be ready for posession in Oct 2012 . I want to know the following .

1) If I sell before possession , will the gain be LTCG ?

2) If I sell immediately after possession ( means after registry in my name ) , will the gain still be LTCG or I have to wait another 3 year after possession to avail LTCG ?

Please clarify .

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