I have jms multi site component into my application, how to create the subsites in local machine.

I have deployed in linux machine i resolved the symbolic issue now every think looks good.
We need to create the virtual host for that or how to make the subdomains.
Please assist me how to achive this.

Create a subdomain depends on the HTTP Server administration tool.
If you are using a cPanel, see the tutorial video CP-04 that show how to defined a subdomain in cPanel and how to create a slave site with a subdomain.
www.jms2win.com/en/tutorial#jms12x-CP-04

If you directly manage the apache "httpd.conf" file the you have to create a virtualhost entry to declare the subdomain.
You can get inspired from the user manual chapter 3.2.4

Once you have defined the subdomain in your server then you must know the "document root" directory that you associated to the subdomain.
When you know the "document root", you can go in JMS Multisites "manage site" menu and create a slave site that has the "deploy folder" equal to the "document root" path.

I hope this will help you

How to change the slave site template design?
I made one small design fix in master site template "index.php" file but that will not reflecting the slave sites how to make those as uniform in all sites.

When you create the slave site, you have to potentially specify that you want to share the "/templates" directory.
I suspect that you have created a slave site with a specific "/templates" directory.

Check the "Jms template" rule that you have used to create the slave site.
In the rule, you have to select the action="specific copy" for the "templates" directory.
See the video 0.b - slide 34
www.jms2win.com/en/tutorial#jms12x-0b

I have created the custom joomla module and installed into master site,while try to share that module to slaves it shows (red line warning) instated of install from master defined from master,I have defined from master and enabled in module manager section but i can not see the module in front end.

Is there any specific way to create the module?

This is not clear.
Do you means that you defined a "custom HTML" module in the master that is not copied in a slave site ?

I suspect this is not the case as you mention red cross for the module.
I suppose that you use the JMS Tool menu and want to install a module that is not defined in the list of extension of Jms Multi Sites.
In most case, you can just define the extension event when it has a red cross because you must have the associated component installed with all its MySQL tables.

So if my hypothesis is correct, you have to check that you have the component also correctly installed.
If the component has also a red cross, perhaps you should have to install the extension from the back-end of the slave.