You purchased the property in September 2010 and proposing to dispose it off now. As you held the property for more than three years, any gain that you get from sale of the property will be liable to payment of Long Term Capital Gains Tax.
For arriving at the Capital Gains one has to deduct the indexed cost of Acquisition from the Sale Consideration.
In the financial year 2010-11, the index was 167. In the year of sale i.e. financial year 2017-18 the Index is 272.
The actual cost of acquisition is Rs. 5 lakhs + stamp duty of Rs. 42,000/- i.e. Total 5,42,000/-
Therefore indexed cost of acquisition is Rs. 5,42,000x272/167 = Rs. 882778.
The Long Term Capital Gain = Sale consideration Rs. 1000000 minus Indexed cost of Acquisition Rs. 882778 = 117222/-
On Rs. 117222 capital gains tax of 20% is to be paid. The Capital Gains Tax works out to Rs. 23444/- or 23445/-
This can be avoided, provided you take, WITHIN SIX MONTHS of the date of sale, National High Way Authority of India Bond which gives 5.25% interest. If the Bond is purchased before 31.3.2018 the lock in period is 3 years. However, if the Bond is taken from 1.4.2018 the lock in period is 5 years.
Or you can deposit the amount in Capital Gains Account (it is not SB account or Fixed Deposit) in any of the Authorised Banks for 3 years.
If you do not take any of the above options, then you have to pay the Capital Gains Tax.