I plan to host a site in a shared hosting environment, where multiple developers can work on the site simultaneously even after hosting, so I’m thinking about creating the subversion repository on the same server space.
Is it advisable to do this, and if so, how can I install the svn repository in my server space?
Yes that kind of a setup should be fine. You will need some kind of shell access to the shared server to svn update your files.If you already have the files on your server, you can create a repository by doing svn import to a brand new repository. If the repository already exists, clean out your folder on the server and do a svn checkout.
Make sure to have your svn server on a different machine for redundancy.