Thanks Olga for Pointers. I was able to fix the issue by fixing Temp Directory permissions. After your pointer, I checked other MSI Installation/Uninstallation was not working either. When I fixed the Temp Directory permission issue (so that SYSTEM has full control over it), it worked like a charm.
This was not related with VisualSVN MSI but still your help was great. I was able to fix the issue :)
