No , it is not required. You may execute a gift/settlement deed in favour of your sons by paying the appropriate stamp duty charges applicable in your state. Kindly note- this transfer is not revocable by you at a later stage.
Thanks for your valuable advice. We will proceed like that. We have a 30 acres land. The repartition suit is in district court from last 2 and half years. So how much land we can transfer to sons. And is there any restriction to which land should be transfered. Can i transfer all my shre to them.