harishkumargvs,
I've tested your code with GDAL 1.7 branch, and I also get the "ERROR 1: Too many points (441 out of 441) failed to transform,". I can't understand how it can work for you
The help page of the USGSDEM driver mentions "Input data must already be sampled in a geographic or UTM coordinate system.", and indeed when checking the source code of the driver, I can see it is not ready to receive an input dataset with other kind of coordinate system. So the error you get is logical.
You have 2 options :
- either provide a geotransform and SRS that are consistent with a geographic or UTM coordinate system
- or fix the driver to accept other coordinate systems. Regarding the later, I could be contracted to do such a fix. If you are interested, email me at contact at spatialys.com.