Exemption u/s 54 if property purchased in name of family member

Ankur Singhal (Student) (34 Points)

16 August 2023  
Mr X Sold the residential property in 2023-24 & capital gain from property is Rs 60 lakhs. He purchased the new residential property in 2023-24 for Rs 70 lakhs but property purchase in name of wife & childern. Will he get exemption u/s 54 in this case?