Either execute a registered deed conveying the ownership, or gift out the same, as ultimately the ownership is intended to be given away. Perhaps, same duty rate is involved in the gift deed. Take care of "gift tax" from the view point of Income Tax. Provide the power of attorney to persons of your confidence and execute the deed.
As it is a transaction between the family members, there may not be any question of fraud. Otherwise, the Supreme Court had previously laid down that since the properties are undervalued and kept only on power of attorney, or an agreement to sale, the Supreme Court in that context said that "it does not convey the ownership".