Can we execute settlement Deed?

I wanted clear advise on below query:  My father has two brothers and two sisters. My grandparents were died in the year 1980 leaving beyond ancestral property of 3 acre 20 guntas by various survey nos. All are got married, thereafter in 1995 my father and other two brothers executed registered partition deed and shared equally 3 acre between three brothers, leaving 20 guntas. The female did not get any share in 3 acre also did not mention their names in the partition deed and did not sign witness signature at least. Subsequently after came to know the Hindu Succession (Amendment) Act-2005 and Karnataka High Court Judgment. The females threatened their brothers to file partition suit in the Court of law. In order to avoid litigation 3 brothers have decided to give and share 20 guntas between two females and females have also agreed for it.  I now request our learned members what kind of DEED can execute between these brothers and sisters with taking consideration of registered partition Deed.

The Property is located in prima place of Bangalore.

Can we execute settlement Deed and register it?

Can we execute release Deed and register? OR

Any other Deeds can be executed?

I should be greatfull if any members send any templat for this...........