Myself and 2 of my friends plan to buy a piece of residential land and construct 3 floors it. Eventually we will occupy 1 floor each. I would like to understand the following:
a. If the land is jointly registered in our names already, can the registration of individual floor (flat) be done again?
b. If yes, what will be the proceedings and what are the stamp duties to be paid during registration of individual floor?
c. If no, what are the suggested alternates to accomplish this?
Thank you all.
