BuddyPress.org

I was able to resolve the problem in the following manner on my localhost:

The issues were w.r.t the directives in the .htaccess file.

Most of the settings were w.r.t to the httpd.conf file of Apache

There could be security issues but AT least it worked locally

I changed

1) AllowOveride None to AllowOveride All (this line follows the Options Indexes FollowSymLinks line)

2) Uncommented teh LoadModule rewrite_module line

3) Accessfilename should point to .htaccess (its on by default)

Hope it works for anyone else having the same issue.

Cheers!!!