Conversion of capital asset into stock in trade

We plan to transfer land (capital asset) in our Books into a SPV (100% subsidiary) at Market Values.

The SPV will be doing real estate development. Precisely, constructing residential towers on this land and selling them.

Queries:

1) Is it required that the SPV has to show the land as Stock in Trade. Can the SPV show the land as Capital Asset only.

2) Can the SPV show the land as Capital Asset in its book. Do the land development and sell the flats. The Profit would be Business Profits?

3) Will the Holding Company would be taxed as and when the flats are sold on Capital Gain?

4) With reference to query no. 1, is conversion of capital asset into stock in trade mandatory for the SPV or will be treated as stock in trade as per Sec 47A of Income Tax.

In case any expert has experience in this field, we request if you can give us your contact details, whereby we can avail your expertise.