Capital Gain (unresolved)

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This is a practical question faced by me in artileship!!! I need a help.

An assessee owns a land of 1011 sq.yards purchased by him in 2002 for Rs. 17,77,000/- including all the charges.

He enetered into a development agreement with some builder for construction of flats ( 32 nos.,) out of which the assessee is entitled for 9 flats as a consideration for the land. The value of the 9 flats determined by the builder is Rs. 56,64,523/-. The assesse sold of one flat during the construction period of the flats itself for Rs. 10,00,000/-

The assesse has no other residential property apart from the above 9 flats. The assessee is not in the business of  selling and purchasing of residential property.

the following are the two questions:

1.) what is the tax treatment? ( i need the treatment alone ).

2.) If the assesse is going to avail exemption under 54F, can the whole of 9 flats be treated as a single unit for the purpose of exemption of " one residential property" as stipulated in section 54F.