Will income generated will be a STCG / LTCG/ Business Income

 A non agri land asset ( held more than 10 years) within munc.limits of several individuals  from a family , was transferred by POA holder ( being family member and one of the adjacent  land owner) in cosnensus ( with NOC of all family members  being owners) in 2016-17 to 2 sons of their POA holder-. Therafter  revenue records  got mutated in the name of those 2 sons , where POA holder and other  family members give consent  to it.  one of taht benificiary is now engaging a land developer  to develope / JV for  construction of Row Houses , out of part of the same property in 2017-18, How the advance  as Dev.agrrement / JV and  proceeds  of sale of those Row houses after sale (to extent of 50%as land owner's share)will be taxed to that son either STCG / LTCG/ buisness income .