Capital gain

Dear sir,

One of my client is selling a land , which he had purchased during 1950s. The gudie line value in 81-82 is only 20 k. Now he is selling the same for 2 cr. Can he invest in a residential property , so that he will get a tax exemption. He does not have a house property in his name. But he is having another 2 plots of lands .

Please advise