Investment Advice needed for Mom

My mother is 50+. She has around 4 lacs of liquid cash from FDR maturity and Salary account. What is the best instrument to invest? or the below plan okay?
(Note: Want something with no lock-in period as we may plan to buy a home in future)

My Plan -
1) Invest Rs. 4 Lac in HDFC Liquid Fund - Direct Plan (Expense Ratio - 0.10%)
2) Start a STP of Rs. 10,000 over 40 months from HDFC Liquid fund to Large Cap - Mirae Assets India Opportunities fund

Doubts I have -
1) Can she further invest more funds (salary, FDs) into the same HDFC Liquid fund on a later date?
2) Is the money deducted from Liquid fund under STP also chargeable under Exit Load?
3) Since STP will be for over 40 months. Will it attract Long Term Gains Tax of 20%?
4) I have read that Liquid Funds should be for Very Short-term investments. Will investing for over 40 months be justified?

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