Mr. Kay purchases a house property on April 10, 1992 for ` 65,000. The fair market value of the house property on April 1, 2001 was ` 2,70,000 and Stamp duty value was ` 2,20,000. On August 31, 2004, Mr. Kay enters into an agreement with Mr. Jay for sale of such property for ` 3,70,000 and received an amount of ` 60,000 as advance. However, as Mr. Jay did not pay the balance amount, Mr. Kay forfeited the advance. In May 2008, Mr. Kay constructed the first floor by incurring a cost of ` 2,35,000. Subsequently, in January 2009, Mr. Kay gifted the house to his brother Mr. Dee. On February 10, 2021, Mr. Dee sold the house for ` 12,00,000. CII for F.Y.2001-02: 100; 2004-05: 113; 2008-09: 137; 2020-21: 301. Compute the capital gains in the hands of Mr. Dee for A.Y.2021-22.