Transfer of home from my father name to my name

Your mom and siblings can either transfer their share by way a release deed or by way of a gift deed in your favour of the property(assume in the name of father) irrespective of ancestral or self-acquired one.

Thanking you,

once they entered release deed is there any chances for my sibling or their legal heirs for claiming their share in property in later period

sir release and gift deed is there any difference if so which one is safe

The legal implications are same in both cases.
In the case of gift there should not be any monetary exchange for that part of property and transfer of property through gift gives you tax benefits not in the case of tranfer through release deed.
In both type of tranfer the registration is required and stamp study differs from state to state.

Gift deed is more appropriate I believe, if you are getting the property for free. It should not be out of coercion or fraud.

(This does not constitute a legal advice)

Thank You

1. You say that ""my mom and all siblings wants to make home on my name".  

2. If that be the case, then all the legal heirs of your father i.e. your mom, and all your siblings should give a Registered Relinquishment Deed relinquishing their interest/share in the property in your favour.  Please remember that the Relinquishment Deed by each one of them has to be registered. Without Registration, the Relinquishment Deed has no value.  This is the best option as it involves very minimal stamp duty and registration fee.  GIFT DEED is a costly proposition as it involves heavy stamp duty on the value of the property (as applicable to sale of property).

3. Once there is a Registered Relinquishment Deed, as suggested above, there will be no problem in future from any quarter.