Is it legal to sell property to brother?

Hi,
I have a homeloan against a property since last three years.
I want to buy a property near by to my office and hence want to sell my current property so that i can apply for fresh loan.
Instead of selling it third party, i want to sell it to my brother who is salaried person. He will have to apply loan to purchase property from me and we will formally make an sale agreement as per regualar procedure.
As its a transaction between blood relation, will there be any legal matter during agreement or home loan? Please advice