Dear Mohan,
To suggest you satisfactorily, as per me we need to know more about in particularly with "Gift Deed".
(i) Gift Deed is "Written" Or " Oral"..??
(ii) Is it a "Registered Gift Deed"..??
(iii) What about Possession...??
(iv) who is in possesseion over the said " First Floor "
(v) Is that Gift Deed is "Revocable" or "Irrevocable"..??
As per Mulla's Hindu Law, 8th ed., p.422:
" A gift under pure Hindu Law need not be in writing. But a gift under that law is not valid unless it is accompanied by delivery of possession of the subject of the gift from the donor to the donee. Mere registration of a deed of gift is not equivalent to delivery of possession; it is not therefore sufficient to pass the title of the property from the donor to the donee. But where from the nature of the case physical possession cannot be delivered it is enough to validate a gift if the donor has done all that he could do to complete the 'lift, so as to entitle the donee to obtain possession;
As regards Hindu gifts to which the Transfer of Property Act applies, the rule of pure Hindu Law that " delivery of possession is essential to the validity of a gift," is abrogated by Section 123 of that Act. Under that Act delivery of possession is no longer necessary to complete a gift nor is mere delivery sufficient to constitute gift except in the case of movable property.
Therefore, for Gift under Hindu Law Possession is very much importan, and a gift once validly completed is not defensible at the will of the donor and furthermore, a gift by father to a son followed by possession becomes absolute and is irrevocable.
But by Hindu Law and some Customary Law if deeds of gift are not fully carried into effect and the donee fails in his obligation, while the donor is still in possession, the latter can revoke.
So, in your case if still your father is in possesseion of "ENTIRE PROPERTY AS UN-DIVIDED" then he can "Revoke" the Said Gift Deed.
