At what depth should a submersible pump be installed for a house in Whitefield, Bangalore,Karnataka

I had drilled a borewell in Whitefield bangalore, Kundalahalli area around 3 years back of 6 and 1/2" diameter to 740 feet. We are trying to use it now, which has not been used for last 2 years as we had sufficient water in the past and now we are facing some shortage. We had a camera insertion done and found water and fractures at various levels.

Our borewell is 700 ft deep. I would like to understand how deep we should keep the motor, should it be just above the bottom of bore or much above ? A metal casing has been installed but I am not sure about the depth.

How do we decide how deep a motor should be kept ? Is there any relation to the stages in a motor, and in our case what would be the most ideal one.