1) you never mentioned when you raised your query that you were buying agricultural land in tamil nadu . since you are from karnataka we advised you on said basis . further you have not mentioned how much land you are planning to buy
2)In Tamil Nadu, there is no restriction for Purchase of any Agricultural land. Anyone can Purchase an Agricultural land. The provision of Land Reforms Act states that a family with five members can maximum own 15 standard acres of agricultural land. Additional five acres is allowed for every member of the family, but all put together the maximum a family can own cannot exceed 30 standard acres.
3) it appears 4 persons are together buying agricultural land . however since only part of land is facing road and it would not be possible to divide land then it would be not a worthwhile proposition
4) Any private company looking to purchase large acres of agriculture land in the state of Tamil Nadu,
must take permission from the state government under section 37(A) of the Tamil Nadu Land
Reforms Act, 1961 before going ahead with the purchase.
Any such land acquired by a company cannot be transferred by the way of sale, mortgage, gift, or
lease without the prior consent of the state government.
Purchase of agriculture land is subject to some rules such as “special government permission must
be obtained to purchase wet lands or dry lands benefited from irrigation projects”.
5)if you so desire you can form company or LLP as case may be . in LLP liability of partners is limited