Need suggestion on property transfer

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Is there any real story where you are concerned ?

Real story? How you find it as fake one sir?

If the property document has been given as collateral security for the mortgage loan obtained by your mother's sister then ask her to first discharge the loan unless the lender will not return the property documents.

As you have stated that this property belongs equally to three people including your grandmother, in that situation your grandmother and other shareholders have to first enter into an amicable partition on mutually agreed conditions and same to be reduced to writing, duly registered. After that your grandmother can execute a registered gift deed in favor of your mother in respect of her share of property.  

But for that she need to retrieve the original document from the lender by discharging the loan in full.

Hence you take steps accordingly if you are really serious in your question or if you are just are updating your academic knowledge then you can ignore it

Thank you for detailed suggestion sir. Is it possible to execute gift deed before partition sir? Since other parties are not ready for partition and they wants to get property and give us money. But we need this property and not money.

It will not be possible to transfer her share of property by a registered gift deed without the original document and an unregistered gift deed is not legally valid.

If the other sharreholders are not willing to partition or not cooperating there is no need to beg them, your grandmother can file a suit for partition and claim her share in the property with separate possession.

There is already a deed written for each parties with their share values. However no boundaries were given in document for each parties. Just mentioned as this property belongs to 3 person with this much of land value. Shall we follow gift deed with this? 

If it is a registered partition deed then it will be valid and if it is not a registered deed then this document will not be legally valid and cannot be legally enforceable.

Better confirm the same and then decide what can be done in furtherance

It is a registered deed sir. Thank you for all your suggestion. It's valuable for us.

Then a suit for partition is inevitable.

You may consult a local lawyer and proceed as suggested.