OK Guys, success at last. First things first...
The svn+ssh method is incorrect for "proper" svn access - the kind that we expect. This is in effect creating a ssh tunnel so that the svn client can access the svn repository directly. This will NOT work for the svn users that you would have defined on your web panel. Since it is using the ssh protocol, it requires you to use your ssh userid and password. In other words, it will only work for one user - your ssh user.
The machine on which the repo was hosted for me - 126.96.36.199, didn't have a http daemon running yesterday. Maybe there was some problem with the system. Weirdly enough, the other machine on which I had tried earlier - ?.?.?.91 also didnt have the http daemon running.
But now, everything seems to be fine. I can access my svn repo over the http protocol, using the svn userid's and passwords!!
Seems like it was nothing but an outage, so you guys should check it out again.