Hi Linux Enthusiast..
Here is what i want to do..
I am currently using RHEL6 and I want to use rpmfind.net's repository for the software installtions.
But I really got very confused when i came to configure *.repo file for it ( for rpmfind.net's repository).
Can anybody please tell me what the baseurl string(or value) shuild be used for it in *.repo file.

There IS no base URL for a repo file for that site...because there IS no .repo file for that site. They mostly provide links to other sites for their RPM's, and they are NOT a repository for RHEL 6. There is the EPEL repository, but the best answer for RHEL 6 is: PAY FOR IT, and use the Red Hat network. RHEL is NOT FREE, and if you have a brand new installation, you should stop where you are and load CentOS instead, which is nearly identical, but totally free. Also, RHEL6 is old...the latest is 7.x.

EDIT: This goes nicely with what you were told last year, when you asked about RHEL, and you were advised to use CentOS instead. Apparently, you ignored that advice, and now you can't use yum to update packages, right?