Property rights to grand child

Only legal heirs right in your father property and legal heirs are your mother, YOU and Your sisters. 

Thanks Bharatkumar for your reply... it has given me a bit relief...

If i dont want to take share from my father's property still my son can ask share from the property aquired by my father who is not alive?

Ans: No your son dont have any rights in grand father property.

if yes, than how can i restrict my son so that my son never think to ask share from my father's property in case i die .

Ans. In case if you expired then he has right to claim your 1/3rd share in such property together with all your legal heirs.

Any kind of will needed to be made? Is there any other means thru which i can achieve the same? i.e new paper...

Ans:  You just execute gift deed/release deed in favour of your mother and brother.