Sale of property with joint ownership with brother

I have an apartment flat which is co owned by my brother as per the property agreement. However he does not reside with us. It is our mutual understanding and he does not claim any right over the flat but the agreement of the flat reflects his name. I now intend to sell the flat. Which would be a better solution - selling the property mutually (I shall take entire payment from the seller but the seller shall pay TDS on both our PAN accounts and I shall have to pay for the capital gain tax on my brother's behalf) or forming a gift deed ( my brother gifting me his share of property and me paying stamp duty/ registration on market value) or forming a relinquishment deed (showing my brother surrendering his rights on the flat)? The flat was purchased in 1985. My brother is in agreement with any of the solution and has no objection whatsoever. I intend to sell the said flat and buy another one in an under- construction project and this shall happen within the same financial year so that I don't get capital gain tax. I shall also need a home loan for the balance amount for the new purchase The new purchase shall not involve my brother. Which solution is the best fit in legal terms as well as lowest financial implication?