What the rules permit
Under FEMA, a Non-Resident Indian or Overseas Citizen of India may acquire immovable property in India other than agricultural land, plantation property or a farmhouse. Residential and commercial property purchases need no prior RBI approval.
That distinction is the entire issue in Dholera. Non-agricultural plots inside a TP scheme are generally acquirable. Bulk agricultural parcels — including much of the Lothal belt — are not, unless the land has already been converted to non-agricultural use.
Practical consequences
An NRI buyer should confirm NA status before committing, not after. Buying agricultural land in contravention of FEMA creates a defective title that is difficult to unwind and can require compulsory divestment.
Payment must route through normal banking channels — NRE, NRO or FCNR accounts. Repatriation of sale proceeds is permitted subject to limits and conditions, and the buyer should plan the exit route at entry, not at exit.
Tax and process
TDS applies on property purchases and the rate differs for resident and non-resident sellers. Capital gains treatment and the availability of indexation depend on holding period and current finance-act provisions.
A Power of Attorney executed and apostilled correctly in the country of residence lets the transaction proceed without the buyer travelling for every step. Get the POA drafted for the specific transaction — generic POAs are frequently rejected at the sub-registrar.
This is a summary, not tax advice. Confirm the current position with a qualified chartered accountant before you transact.