Invest Property Sales Proceeds in Time You can get a time period of two years before you invest proceeds from property sales, but it has some conditions applied. Surana said, "Under Section 54, capital gains realized from sale of residential house are exempt in case of re-investment in the purchase of residential property one year before transfer or two years after transfer, or construction before three years after transfer (That is, investment has to be made within the specified time limit). If the amount is not utilized till the date of filling of return, then deposit must be made in a nationalized bank under the Capital Gains Account Scheme."