Home Loan by Son for bridging deficit amount from Capital Gains

Dear Sir, My Father (aged 67 years) sold the joint property co-owned by his brothers since last 50-years. The amount received through this Sale is 100% Taxable due to Profits under Capital Gains (Gains is 100% taxable due to property appreciation in last 50-years as per Government declared land Prices in that local SRO.) These funds received through this sale is partly (60% of funds) used for purchase of new Open Residential Plot. This fund used for purchase of Open Residential Plot is Taxable under Capital Gains? If yes, can I claim tax benefits after I construct the Home on this Plot using remaining 40% funds. Our CA advised Open plot property bought using Capital Gains cannot be considered for tax benefit. Due to this, this funds Value(60% of fund) used to purchase property is 20% Taxable due to Profits gained through Capital Gains Now due to shortage of funds to avoid Tax for Capital Gains Account 60% of funds due to Plot purchase, we Need Home Loan and bridge this gap. Is this proper way to take home loan to cover less amount. I am Employed (My age: 30 years) and my Father is retired (Father's age: 67 years) Will I be eligible for Home Loan on this property completely owned by my Father. (I have one younger sister and she is married. So property will be owned by my father and my sister is ready for any legal agreement in my favor) Can my Father claim Tax benefit for Capital Gains and can I claim for Income Tax benefit if I take Home Loan on my Name (property owned by my Father) Please suggest better plan to avoid paying huge taxes.