Hi Sarma,
Thanks for the pcb design.
Hi PeTco,
Somebody on another electronics chat website also complained about the circuit you found. I also built it to see and mine also didn't work. So I improved it in a few steps:
1) I added an RF amplifier transistor to increase its range and to isolate its antenna from its oscillator so it doesn't change its frequency when something gets near or moves away.
2) I added a low-dropout voltage regulator so that the frequency doesn't change as the battery voltage runs down and so that the preamp transistor remains properly biased (it didn't in the original circuit).
3) I added pre-emphasis (treble boost) like FM radio stations have so that the sound quality is good.
It overloads my Sony Walkman and clock radios which makes it difficult to tune because its signal is all over the dial. Luckily my Sony Walkman radio has a local-distant switch that attenuates strong local signals so I could tune it to an empty spot on the FM dial.
Its frequency is so high that it won't work if it is built on a breadboard. I used stripboard with very short traces but a pcb is also good.