Can I claim exemption u/s 54F for repayment of Home Loan?

Exemption under section 54F can be claimed if the sale proceeds are utilized within one year before or 2 years after the date of transfer. So where a house is bought one year before the date of transfer by taking loan and you sell your house property within one year and uses the amount to pay back the loan, such repayment should be taken as fulfilling the condition of using the sale proceeds.