Income from multiple house property

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This query is : Resolved

BIKAS DAS (Querist)

10 June 2015 I have 2 residential properties in Bhubaneswar city.
1. The first one is a residential building (as approved by the local development authority) and has been constructed by myself. This 4 storied building has 8 units of 3bhk and can be occupied by 8 families separately. I've leased this out as a single property for a corporate guesthouse. I've filed the income from this building under the income from house property for AY 2014 & 2015. The average annual rent received is Rs 28,00,000
2. During Mar 2014, I've purchased the second building, which is a 3bhk flat in a multi-storied apartment and lies unoccupied (not rented out).
3. I stay in the same city with my parents in the house that's in my father's name.

Now my queries are :

1. Can I show the second house purchased last year on notional rent and the first big building (with 8 family accommodation) as a self-occupied property? Although it has 8 dwelling units, approvals, bank loan etc. shows that it's my residential building. I've calculated great differential tax benefits to me in spite of the difference in bank interest components for these two properties?

2. Would It Depth raise objections for shifting this from a big corporate guesthouse to a self-occupied property as for FY 14-15, I've received rent of 30,45,000 from the lessee and 26AS reveals the TDS amount of Rs 3,04,500?

3. What is the extent of meaning of a building/property? (As in my case, my property comprises 8 separable 3bhk accommodations for 8 families). Is it, so, a single property or congregation of 8 ones?

Thanks in advance for any response.
BDas