Dear Pankaj, I live in Hyderabad. My lawyer told me that even if a Gift Deed is registered, it can be revoked in extreme cases. Interestingly, my lawyer says that the following clause can be included in the document that will protect the Donor:
"The Donor is at liberty to keep his rights over the property, entire or part, if the Donees engage in unpleasant or unlawful acts against the Donor, and the Donor is at liberty to revoke or cancel this Deed of Gift Settlement at any time, entire or part of the property individually. After the execution of this revocation or cancellation of this Deed of Gift Settlement, the Donees or their nominees or representatives will cease to have any rights over the property henceforth."
This clause allows for good protection but you have to get it checked by your lawyer if the above clause can be included in your document. Hope my message helped.