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If the person is missing for more than 7 years, then he can be declared legally dead by a court and his property devolves to his legal heirs or as per his will, if any.

The procedure is to file an application before the civil court  in your local jurisdiction to declare him as missing for more than 7 years and declare him legally dead.

hii....

Is there any procedure is person is missing from  5 years only and now his legal heirs want to sell his property ?

Trying to sell off the property of a person missing for only 05 years amounts to fraud. Unless he can be proved to be dead or missing for more than 07 years and legally declared as such by a Court of Law, any person's property cannot be disposed off.