Gift of immovable property reserving life interest in property for donor,is valid .Ref: Renikuntla Rajamma vs. K. Sarwanamma, (2014) 9 SCC 445.
However when the Donor stipulates conditions in a Gift Deed then the Donor can resort to cancellation on non-compliance. A conditional gift where possession remains with the donor as long as he is alive, does not become complete during the lifetime of the donor. When a gift is incomplete and title remains with the donor, the deed of gift might be canceled by the Donor subsequently. Ref---S.Sarojini Amma vs Velayudhan Pillai Sreekumar (Hon'ble Supreme Court on 26th October, 2018)---(2018 SCC Online SC 2200)