We own a few acres of agricultural land in Gujarat and wish to sell it. The best way would have been to convert it to NA by obtaining Collector's permission, developing it, and selling it ourselves, but the costs for this is too high.
My question is: In our deal with a buyer(who is not a farmer in Gujarat), how can we get paid upfront for the whole amount of the land?
If a suitable buyer comes by, can we make an irrevocable power of attorney on his name, so he can pay us the whole amount upfront and he later converts the land to NA and sells it. We could have a written agreement that if any problem comes up during the NA conversion procedure, we will refund his amount.
Please advise...
