Hi Apoorva,
Good to know and welcome you to the family of SDK developers 
All the Best!
Also in addition to Mohan Babu's suggestions please also try to adopt and make a habit of following the below which is make your in developing script/codes safe and prevent from loosing the unsaved data/design
1. When ever in a solution (where more than one developer is working and accessing) if trying to add/delete the files, before performing any one of these actions please make sure that the action you are going to perform is communicated to all other co-developers. So that all others have to save their work and should give you a Green flag to either add or delete. unless this happens please don't go ahead. This is will ensure all other co-developers projects are also in sync when you add/delete any file.
After completion of adding/deleting save and ask all your co-developers to refresh the solution and start working. This has to be followed as a prior norm from all developers who are working on a same solution.
2. Set of UI's related to single BO should be worked and designed only by one developer and make sure before handing it to other developer entire BO structure and bindings every thing is activated and switch back to view mode and hand over.
3. Try to make sure that in a single solution no naming conflict between two custom objects and std. objects or elements or other actions or nodes
4. Make a habit of placing every thing in a dedicated folders, so that each respective developer can access his own folder and can continue with his work.
Many other can be followed but above mentioned are primitively to be followed steps.
Hope you should have a best experience with SDK
Regards
Hanu K