Capital gains offset against property in parents name

I plan to purchase a property in my mother's name. I will be applying for a home loan with my mother as a co-applicant for the same. 
For this can I claim benefits of Section 54f (captial gains from equity in my name) against this property payment. 
Also going forward can i claim this exemption againt loan prepayment in the future. 
PS : 90% of the cost of the house will be paid by me(remaining 10% from my mother's savings)
Would it be mandatory to have my name on the property title.