Would this work if i define this in a template ?
Yes.
If yes, how do i achieve it.
Just do exactly as you said. Define it in a template.
Is there any other way that i can declare the resource globally with a variable to be used in an EL(like in the case of faces-config.xml)
Put it in request map yourself in (post)constructor of a request scoped bean which is referenced in the view.
ResourceBundle bundle = ResourceBundle.getBundle("properties.common", facesContext.getViewRoot().getLocale());
externalContext.getRequestMap().put("prop", bundle);
It can even be referenced as a property of a request scoped bean and this guarantees construction of the bean even if it's not referenced elsewhere in the view.