1. Since he wants to make you the absolute owner of the villa the most appropriate way to do this is through execution of a gift deed which has to be registered in the office of sub-registrar as a gift deed results in instantaneous transfer of title to the donee.
2. The cost is the fee of the lawyer for the drafting of the deed, stamp duty and registration charges.
3. The deed has to be registered in the office of sub-registrar within whose jurisdiction the property is situated.