how is tax calculated on joint development agreement

As per the amended section after finance bill 2017, the land lord has to pay capital gain tax after obtaining completion certificate from the competent authority.

The value of consideration is higher of either stamp duty value or the amount received from the prospective buyers.

The proviso also stated that in case if the land lord transfers his share before obtaining completion certificate, the capital gain is to be chargeable to tax in the year in which such transfer was made.