Invest in 54ec by each holder of the flat

Ronnie fernandese (RETIRED) (116 Points)

11 February 2017  
Based on 1981 index, my LTCG = Rs 1.75 crores. Flat in Mumbai is owned by myself + wife + son (nri), 33.33% each. Can each of us invest max 50 lacs in 54EC bond i.e., Rs 50 lacs x 3 = Rs 1.5 cr? OR, max only 50 lacs can be invested in 54EC by any or all 3 of us? Please advise.