Transfering full share of inhertiance/redirecting inheritance to immediate family member.

Until and unless it is not an ancestral property, the inheriter can transfer the inherited property to the person of his choice by executing a registered gift or settlement deed.

The Gift deed can be executed only after the property ownership is acquired by the father and then he can pass to his son by Gift Deed. The Gift Deed attracts registration fee and stamp duty.

Does the settlement deed require to be registered with registrar and if yes what will be the registration and stamp duty charges. Is it settlement deed less expensive than Gift Deed.

Can the settlement deed be prepared before taking inheritance or the father first needs to take ownerhip of the property and then only can he execute settlement deed in favor of son.

If your father is desirous of transferring the immovable property he should have clear and marketable title to the property. 

Then he should first inherit the property after which he can transfer it either by a registered gift deed or registered settlement deed. 

The stamp duty for registration of settlement deed is lesser compared to gift deed.