New Delhi, Sept. 2 -- After his wife died, 83-year-old S. Jagannatha Rao sold his three-bedroom house in Bhopal to move closer to his two sons in Bengaluru. Since the locality was expensive for buying a property in, he chose to rent instead.

He invested the proceeds from the sale of his Bhopal house in Section 54EC capital gains bonds, government securities and fixed deposits. Separately, Rao also sold an ancestral property in Andhra Pradesh.

"I was not reluctant to sell the Bhopal house as it was in everyone's best interest to sell and move on," Rao told Mint's Shipra Singh. "However, I was emotionally attached to my ancestral property in Anantapur."

After weighing the pros and cons and discussing the decision with his sons, Rao said ...