Gift deed should be cancelled with mutual consent 

fresh gift deed should be executed in favour of society 

The gift deed has been registered on an individual name hence the sub registrar may not accept the rectification deed to rectify the name of the donee in the deed.

You may have to get the gift deed revoked by a cancellation deed executed jointly by both the donor and donee jointly subsequent to which you may get the registered gift deed executed in favor of the society. 

Now you can ask president to revoke the gift deed and again registered cancellation of gift deed. Because the donee is different entity, means the plot were gifted to society and not particular person name, but it was drafted in particular person name instead of society. 

So your draft should be perfect the latest one.

1. You can go for rectification of gift deed.

2. It will save you from repaying the stamp duty.

Dear Sir/Madam,

You are suggested that you may go for the rectification of the deed as the same will be cheaper.

You can make a change in the gift deed by executing and amendment deed. 

Yes you can also for rectification if required and also cancel it if you want with both parties consent

You may get it rectified by getting rectification deed  or file a declaratory suit and get no objection from the president if he is willing. 

- You can rectified the said mistakes after executing a Rectification deed , if there is mention in the Gift deed that the said person is president of the society . 

- Otherwise , the Gift deed should be cancelled mutually , and execute a fresh deed.