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well u can form a co-operative society of u r family members and purchase land in the name of the registered society. The family members will be d shareholders of the society. now the society will be held by ur family members and the members will be holding the constructed property in their individiual names having flexibility to sell the units by taking an NOC from d society.
Either u can register the building under an Apartments ownership act.
Either u can form a company, hold the property in the name of the company and issues shares to u r family members, when some member decides to dispose his share of property then only the shares have to be transferred, this way government duties can also be avoided.
better consult a good advocate, hope this helps