What value of inductance and type of inductor should i choose for my motor driver circuit?
In the comments you say:-


  PWM frequency is about 1khz, it will be using LiPo or lead acid
  battery


Battery-powered speed controllers don't usually bother with inductive filters.

Inductance in the power supply leads is bad because it causes voltage spikes. Large low ESR bulk capacitors are usually added across the controller power input to reduce spikes. These will cause a high surge current when power is applied, but the battery can handle it. If this surge current is a problem for the connectors or power switch then a two stage connection sequence can be applied, with the first stage going through a small value resistor to limit capacitor charging current.  

With 1kHz PWM the FET Gate drive current can be reduced to increase switching times and reduce high frequency EMI, if that is a problem. If several FETs are wired in parallel they should have individual Gate resistors to minimize ringing.


  I am using mosfets ir3205 and driver ir2103 as basic components.  If
  there are any better and cheap components availabe, please tell.


IR3205 is OK for this application. You will need 2 in parallel per H-bridge leg (8 total) to handle 25 A continuous / 50 A peak current. With lower resistance FETs (eg. 2 m&ohm;) you might get away with 1 FET per leg, which could be cheaper depending on unit cost and other factors (PCB area, heat sink size etc.).

IR2103 is a good half-bridge driver, and they are cheap enough that price should not be an issue. However be aware that you cannot get 100% PWM out of it unless you use an isolated DC/DC converter to supply the upper FET Gate drive voltage.