Cash consideration in installments in lieu of share in house

We are two brothers who have inherited an intestate house in Delhi from our father. We both brothers are senior citizens. Though we are paying property tax on the said house, we have not yet applied for mutation to be done in our names in MCD. Neither of us brothers are presently living in it permanently. My brother wants to buy out my share in the house at a mutually agreed price, but cannot pay the agreed price lump sum. He wants to pay the agreed price in monthly installments over some years and may be after some years pay the balance installment in lump sum. Will the monthly installments received by me be taxable under the Income Tax Act? Will I get exemption u/s 56? If not what is the alternative to get the exemption? Again, how should the agreement be drafted that in case of my demise my family members continue to get the unfinished installments from my brother or his family members?