Capital gain from house property

Vikram (Project mgr) (24 Points)

29 September 2014  

Hi, I bought an apartment in Bangalore at a pre- launch back in 2006. I got the bank to disburse the full amount on day 1 and started paying emi. I received the possession only in 2014. I have not registered the house yet.

1) now if I sell the property, will it result in a STCG OR LTCG.? Considering the entire amt was paid back in 2006.

2) can I still avail the interest loss in next 5 yrs, if I sell it?