As landlord Can i convert my pagdi tenants into owners ?

Respected experts , I am landlord with own building in central suburbs . I have 18 tenants . 12 are proper pagdi tenants who pay low rent ( 60 rupees to 180 rupees for room size 120 sqft to 400 sqft ) . I have 3 shops which are also given to pagdi tenants. Shops are of size 110 sq ft and the give approx 600 per month And i have 3 sheds in compound. Last 4 years i have stopped taking rent from the sheds and i am trying to negotiate to vacate them since they are not within building and i want to get rid of them . The 12 residential tenants and 3 shops are now open to discussion for converting them into ownership from pagdi tenancy . Is it possible to convert pagdi tenants to ownership ? What are the rules and permissions required . After making them owners , can this become a cooperative society ? Request advise from experts .