Capital Gain tenure calculation

In the above case you have to pay short term capital gain. If u register the property after feb2016 then only u will be eligible for long term capital gain. Registration itself connotes that you have given transfer of possession.

It will be Short term capital gain.

Once a property is registered, the asset is transfered and hence capital gains will arise. Since by July-Aug,2015, only two years would have been completed,hence short term capital gains will be applicable.

The date of registration is the date on which the property is being transferred to your buyer. As this date falling in July/Aug 2015 is within 3 years from the date of acquisition of property in Feb 2013, it will be treated as short term capital gains.

It is advisable to wait till May 2016 atleast to sell the property so that you can take the benefit of lower taxation available for long term capital gains.

However, your decision to sell now or after Feb 2016 should also be after considering other factors such as the additional tax liability vis a vis additional price, uncertainty of prices, your need for funds.