Hi
technically you are to demarcate the property in to 3 and let each of these demarcated property to 3 different individuals. Also you need to let them share common areas.
But i am worried, if the agreement(demarcated, 3 rent agreements fall in to the hands of Chennai corporation then your property tax will be treated as commercial and you will be liable to pay enhanced property taxes.
Also if electricity authorities come to know of existence of 3 rental agreements, they will ask you to install 3 different meters and pay electrical charges at commercial rates.
in my view, it is not advisable to split a single tenancy in to 3 tenancies and invite permanent life long trouble in form of enhanced property taxes and electricity bills.
sorry to give you a dissenting view, but my clients(relative also) have suffered because of such arrangements.