Capital gain: old property sold, new obtained on loan

I am a salaried individual and have been regularly filing ITR.

I sold my flat for 42 Lakhs in March 2019. I was availing IT benefits for home loan for this home which was purchased in May 2012 (for Rs. 33.5 Lakhs). Of 42 Lakhs, 7 lakhs were spent for paying the outstanding principal and I am left with Rs. 35 Lakhs.

I purchased a new flat, earlier in Oct 2018 for Rs. 60 Lakhs + Rs. 3.9  Lakh for stamp duty and registration. Of this amount, Rs. 58 lakhs were obtained through another home loan.

Of the 35 lakhs that I have from the sale of the old property, I am planning to use 15 Lakhs for repaying the principal of the new home loan.

Would remaining 20 lakhs be considered as capital gain on which I have to pay IT?

Thanks