Investment of capital gain

This is Prafull Shah,

Against  sale of my shares from a Pvt. Ltd. Company, After indexation, I am advised to invest Rs.50,00,000=00 in a capital gain bond.  However,  I am looking for a residential place in which I can invest the same amount  instead of capital bonds.  What is the time limit for this investment?    If I want to have some time for selection of a residential place, is there any intermedaite solution, whereby I deposit this amount for some stipulated time till I can settle for some place in which I invest the same amount?


Please advise.






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