You will be charged @ 20% on long term capital gain +EC+SHEC.
However capital gain tax can be exempt in following cases
1) If residential property is purchased within 2 years after the date of transferof residential house property.
2)If new residential property is property is constructed within 3 years from the date of transfer.
Extent of Exemption-
Investment in new asset or capital gain whichever is lower will be exempt.