You will probably have to reset the content type in the [CMS > Admin > Content Types] section

Thanks Eric, That worked partially. Still I'm seeing that overrided property name is not appearing in the CMS, that means I have a virtual property in parent class and in the child class I'm updating the name to different one, like Parent(Name= A) -> Child (Name=B), Its not working.

Any Idea about this issue?

In that case you must update the parent content type.

However, you should avoid inheritance between content types. There is no benefit to it, if you want to enforce standardisation implement properties interfaces instead. So if you remove the inheritance and copy paste the properties from Parent A to Child B you'll solve that issue for sure.

Oh Ok, Its an common property which shared for some other blocks as well so we may not able to modify the Parent one and its already in use. 

Actually we are looking to change only in this block. 

I get that, but set up a temporary local database and try to copy the properties you want to change to the block type and remove the parent inheritance.