virtualbox.org

Create a new VM. Use a Linux LiveCD but change the network card from NAT (the default) to HostOnly. Does the guest get an address?

Can i install it from iso downloaded from online? Please let me know

Yes, exactly, but don't even bother installing it. Just go into Live mode, after you've changed the Network Adapter to be Host Only.

I did a re-installation, after carefully deleting all the host only and the ghost dhcp servers that was conflicting earlier.
Now I could not create any host only adapter, its throwing an error

"Failed to create the host network interface"
SetupDiCallClassInstaller(DIF_INSTALLDEVICE) failed

Would you mind doing a "careful" re-installation, according to the recipe I gave you? viewtopic.php?f=6&t=83252#p394075

If it still fails, then right-click on the VirtualBox shortcut. Select "Run-as-Administrator". Go directly in the VirtualBox Preferences » Networks » Host-only networks » Add. "OK" your way out. Quit VirtualBox, launch it normally.

Finally finally it worked. Thank God.
After the reboot the adapter appeared (with 10 more adapters which got created every time when i tried to create earlier)
Apart from the re-installation, On the Host-Only adapter network setting, i Checked the cable connected this time.
now I could talk with the guest machine.
Few other steps I followed, in the windows firewall i disabled the the firewall and enabled it again for the Ethernet adapter.

Thank you for all your help.

Sometimes, it could happen that the interface setting inside host OS are wiped out!
I cheked the host /etc/network/interfaces , and found that the primary interface entries were not present
I updated the file with host primary interface: