Well I am using Ubuntu 12.04
I was doing my search meanwhile. Have resolved the problem for now.
mknod /dev/parport0 c 99 0
and had to change permission from root using
chmod a+rw /dev/parport0
which i could not since i dont have access to root.
So went to the directory containing my .c file typed following commands.
sudo make flash
So I am thinking when i made the device node, access permission was granted by default since i am the only user.
thanks for you reply