The properties bought under a sale deed shall be the absolute properties of the buyers.
They can transfer the properties to their sons or relatives or to the persons of their choice by executing a registered settlement deed or registered gift deed or a rgistered sale deed insofar as their respective undivided share in the property is concerned.
Alternately they can execute a duly registered partition deed between themselves and can go ahead with their proposal accordingly in respect of their individual share in the property is concerned.
But please remember that all the transaction with regard to transfer of immovable property shall be done only by a registered deed and any unregistered deed is invalid in the eyes of law. So you cannot avoid the stamp duty involved for the registered deed.