I want to get user's heart rate information from watch and store it in paired iPhone's health app. I know we can store heart rate information through health kit but can we pass heart rate data from watch to paired iPhone?
1. There is no open API for developers for getting data from heart-rate sensor. Apple uses their private methods for doing this.
2. Your idea about getting this data already from HealthKit is not good:
So, currently, there is no suitable options for making heart tracking app.
UPDATE (2015-06-09)
On the WWDC15 Apple announced watchOS 2.
In this update there will be realtime access to the heart rate sensor and other sensors! More info is here: https://developer.apple.com/watchos/pre-release/