How to transfer the property from other in laws name to our name.

I bought one residential plot in my mother-in-law's name through lottery arranged by state government agency in West Bengal and I paid the money. Now the plot is ready for registration in my mother-in-law's name. This plot is free hold and my mother-in-law will transfer this plot to me and my wife. My father-in-law is alive and they have a son (two children - one son and one daughter who is my wife). My father-in-law, bother-in-law all are fine with transferring this plot to me and my wife as we have paid all money. Now the question is how to transfer this land from my mother-in-law to me and my wife? Option 1 - go for sell deed, which is safe but there is an issue on income tax as the price has increase many folds from the price we paid which may lead into paying a lot of tax for capital gain by my mother-in-law which is virtual. Second option - go for gift deed where we have to pay stamp duty but capital gain issue will be resolved. Seeking your expert advice.