Regarding property and will

Once the property has been transferred by gift deed even before the Will came into force then the Will becomes infructuous because there's no property to be acquired by the beneficiaries at the time of enforcement of the Will.

However your father can cancel the Will even now to ensure that there arises no dispute in future in this regard.

Gift deed executed by your father in favour of you is perfectly valid and legal. Since will comes in effect after the death of testator and till the death ownership does not transfer to beneficiaries and owner of property has every right to transfer the property to anyone before his death.

It is presumed that the property is your father's property so that he can gift it to you.  The will comes into force only after the life of the testator.  It is better to cancel the will to avoid litigations.

Gift deed shall prevail over the will since the gift shall be applicable / enforced immediately on its acceptance and registration.

Presumably the gift deed includes all properties of your father and nothing left out for consideration to pass on after his (your father's) death, isn't it ?

The will shall be applicable after death of testator for the property bequeathed, if any .