Gift deed / relinquishment deed

Dear All, My Friend has one room at Jogeshwari at chawl premises. The said room is in the name of her and her sister jointly. Both are married and have children. Her sister is staying there with her family. Now, my friend wants to give/relinquish all her rights and interest of the said room premises to her sister without any consideration. Can she do it by Gift deed or by Relinquishment Deed? My colleague told me Relinquishment deed would be better. But I have not ever made any such deed, I want to confirm whether Relinquishment deed would serve the purpose or not? Whether it is required to be made on stamp paper and if yes, of what denomination. OR If it is required to be made on stamp paper and registered at registrar office, what is the process to registered and where to registered? Any stamp duty required to be paid on it? if we made it in Marathi, then is there any additional requirement? NOC from legal heirs of my friend is required or not or she can depose on their behalf also? Or else Gift deed have to be made? Please revert as soon as possible because the said premises would be going on for redevelopment process and my friend want to do this before that. Thanks in advance. Darshana.