My parents want to gift property to me. Can we sign the afidavit this month and register it later? 

Question 1:  If yes then on the day we sign paper does ownership of property of my parents in removed? Does the property still be owned by my parents?

Question 2: Will I be able to convert the property from lease hold to freehold by myself, after registration?

said property is in Delhi.

Is there any other way ownership of the property can be transfered to me and I dont have to pay the stamp duty now?

please suggest

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Mr.Garg,

A Document is effective from the date of it's execution and not the date of it's registration, you can execute the gift deed now provided you get it registered within 4 months (without penalty) or 8 months (with penalty upto 10 times the registration fees).

Affidavit is not sufficient to make a gift, it requires registration.  You will become the owner from the date of regn., of gift deed.  

Gift deed registration os not mandatory, nut if you do not register you can not claim thye benefits under it, so when it comes to gifted properties, execustion is very important, and it will be cinsdered as accepted from the date of its excecution.... (If a person refuses to execute the property even if it is registerd do not come in to effect since it will be cinsidred as unacceptance... so acceptance in anyways is very important......) and regarding the registration formalities Advocate Bharat has clearly specified.......

So If I execute gift deed now (sign it), do I need to do it on the stamp paper of equivalent stamp duty which is some pertcent of value of property. 

.

Or I can pay the stamp duty while registration?

please suggest

yes. such formalities may be done during the registration....... but make sure you register as soon as possible for your benefits....

The gift deed only executed with proper registration and stamp duty. If you done such process then it will create your legal right upon the gifted property. If you doesnot registered than you parents can any time revoked such gift deed. Affidavit has no binding effect as well as no legal sanctions.