I have a flat in Bangalore which was bought in May 2002 for 26.5 Lacs, out of which 25 lacs was home loan. Now I am wanting to sell it for say, 40 lacs out of which 16 lacs is the principal outstanding with bank. So I will get net 24 lacs in my hand. My question is out of this 24 lacs how much do I need to invest in real estate to get full Long term capital gains exemption? (basic question is - is only LTCG needs to be invested or the original capital PLUS LTCG needs to be invested?

Secondly, can I invest the proceeds in a commercial property or does it has to be a flat/ house/land?
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