Mohan, the owner of piece of land at Chennai, entered into an agreement with Reality Builders as a Joint Development Agreement for construction of a housing complex. He is desirous to seek your opinion in the context of

The stamp duty value of the share of owner of land / building in the developed property on the date of issue of certificate of completion (plus monetary consideration received if any) shall deemed to be full value of consideration received / accruing as a result of transfer of capital assets for the purpose of computation of capital gain. In cases, where, the owner of the land / building transfers his shares prior to date of issue of such completion certificate, then capital gain on such transfer shall be calculated as per the normal provisions of the Act without considering the provisions of the section 45(5A) of the Income Tax Act, 1961.