The best thing for you would be to form Owners’ Association under Tamilnadu Ownership Flats Act, 1997. You will be able to get the booklet from any shop selling law books. The booklet gives step by step procedure to register your flats under the Act, so that your ownership of the flat becomes water-tight. You do not have to go anywhere or approach a lawyer for drafting the agreement, because everything is there in the Act itself. Generally one can register the Association as a co-operative society or under the Societies Registration Act. As you have only 10 members, co-operative society may or may not be possible. Under the Societies Registration Act the registration will be done in the office of the charity commissioner. In Chennai most apartments register as welfare associations, which is different from the registration under the Ownership Flats Act, though both are with the charity commissioner. A Welfare Association is only a service Association just to look after the common services. An Association under the Ownership Flats Act, on registration becomes the owner of all residual premises and equipment outside of the flats and hence has more authority. Individual flats also become transferable immovable properties. Transfers do take place even without registration under the Ownership Flats Act. But as there is no sufficient experience, one cannot say that problems may not arise in future. The Act itself gives Model Byelaws also. The Association will have to register first adopting the Model byelaws as it is. Later they can be amended, if felt necessary.
One final advice: Register as early as possible, because with passage of time members may change or their attitude may change or vested interests may creep in and the members will even oppose registration of any kind of Association.