Purchase date for a property taken on installment

Hi,
I wish to know what is the purchase date considered for a property which is purchased from a builder and takes time to be built. The builder usually spreads the entire payment into multiple installments.
My objective is to hold a property for > 2 yrs and then sell it so as to incur long term capital gain. But I dont know what date should I consider as purchase date for the same.
I can think of the following , pl help on what applies:

  • Is it the date when all installments for the property are paid to the builder (in this case , does only the sale value installments count or other payments like , club house, corpus etc also needs to be paid?)
  • Is it the date on which the builder issues a possession certificate?
  • Is it the date on which the property is registered in my name?

@Bharti_Vasvani if you can help here.

Hello @Vijay_Sharma,

As per the order passed by Honourable ITAT in the case of Yogesh Mavjibhai Gala vs. PCIT [ITA No. 3373/Mum/2019] (Mumbai Bench) and Richa Bagrodia Vs. Dy. CIT [2019] 175 ITD 552 (Mum) in the case where the flat is under construction, for the purpose of calculation of the period of holding for capital gains purchase date will be - Date of allotment issued to the assesse.

Hope this helps!

Thanks for the info.