Hello Sangeeta,
Determining the Stamp Duty applicable for a Gift Deed is based on the location of the property and the relationship between the donor and donee. In your case I know it is within family but the location is not clearly defined. Let me explain it with respect to Bangalore. Here in Bangalore, the jurisdictional limit and Stamp Duty applicable is categorized as follows:
1.) BMRDA /BBMP/ City Corporation limits - Rs. 5,000/-
2.) City or Town Municipal Council or Town Panchayat Area - Rs 3,000/-
3.) Limits outside both of the above - Rs. 1,000/-
You should remember that this Stamp Duty applicable is per donee. So in your case since it is you and your brother who are receiving it, multiply the stamp duty by 2 for your calculations.
Additionally, you will also have to pay Registration fee of Rs 500/- irrespective of where the property is located.
Regards,
Shiv