You have to pay long term capital gains on sale of flats as flats have been held by your father for more than 10 years
2)
Long-term capital gains are taxed at 20%, excluding education cess and surcharge.the buyer is liable to deduct TDS @ 20%.
3) If you choose to invest these gains in another property, you can claim capital gains tax exemption. Or you can purchase capital gains bonds. In case you decide to invest in a property but are not able to make the purchase by the due date of filing of tax return of the year in which property is sold, you can deposit these gains in a capital gains account scheme, as per the time and manner prescribed.