Thank You guru jiii, for your precious reply 
its like a bucket of water for a person who is in a desert where he is struggling get a drop of water 
Appreciating your help !!! Also expecting your few more valuable suggestions on how to create a Virtual Machine installing a 32-bit OS and then install CDH.
If you can give me some steps/tips, that would be a great help for a person like me (In future, if some one requires the same to refer). Anyway, as you suggested I am gonna give a search in google right way on this.
Dought: Do I need to install a seperate OS for this ? or can I install VMWare Player 32 bit right way on my PC ?
Dought: But in vmware.com I able to see "VMWare Player 32 bit" only for linux (then in this case, how to proceed)
Awaiting for your reply. I will make deserve your replies with my points Thank you.
Best Regards,
Venu