I just found the solution.
For those who stumble on this page the solution is given below :
string text;
[EditorBrowsable(EditorBrowsableState.Always)]
[Browsable(true)] [DesignerSerializationVisibility(DesignerSerializationVisibility.Visible)]
[Bindable(true)]
public override string Text
{
get
{
return text;
}
set
{
this.text = value;
this.Invalidate();
}
}