Capital Gains on inherited property after re-development?

Our property is 50 years old & are developing residential scheme on our own (finance through bank – mortage loan against land). Out of say 4 units we are planning to sell 2 units & balance 2 units wiil be kept for self occupancy. In this case are we supposed to pay any capital gains tax? Experts Please respond.

Does the RBI, Finance Minister could not draw guide lines for Real Estate funding?

My question is real estate particularly residential aprtments there is absolutely no guidelines, it is surprising, that a person investing huge amounts has less and less he could get the quality, standard etc.

The banks too a silent spectator and funds i would call bleeding to builders. No guidelines no regulation No quality assurance no certification nothing. This is what Mr chidambaram calls freeing and reforms. The builders laugh their way to the bank. There are number of speculative buyer mint money even in 10 days. Buy sell like that property prices are jacked up . Can anyone wise in this matters comment?