My self and my friend bought a flat in chennai with joint ownership of 50% each at the cost of 20 lakhs each in the year 2008. From on that day onwards I was residing in the flat and notional rental amount was given to my friend. I am planning to buy the rest of the portion also and my friend to sell the same to my name.
Pls suggest what steps need to be taken .
What's will be the legal portion need to be taken and is it possible to get the bank loan for the same.