Dear ManishK,
According to your requirements, I would create one only custom post type for 'property' so that searching can be done across all properties.
Add a custom taxonomy for 'property-type'. With the taxonomy you can mark properties as Residential, Commercial or Business. With a hierarchical taxonomy you can also have sub-types.
Next you need to create the 3 groups of custom fields, you can attach each one to the property post type and its corresponding term.
Please let me know if you are satisfied with my answer and if I can help you with any other questions you might have.
Regards,
Caridad
