I have finally managed to get it to work!
@Stalin- you were right! it was that the pin was always being pulled low. Such a silly thing! I used another pin and voila!
For some reason the pin i was using - GPIO54 , if configured as input its always pulled low, I would really love to know why that's the case or how to go about hacking it. @Stalin, any thoughts or ideas on that?
1) I have probed the GPIO54 pin and if I keep my input into this pin HIGH, the value is always low ie cat value->0(always)
The GPIO behaviour isnt' good
2) " I presume that the GPIO pinmux is good." How do I check that?
3) "Please ensure that you have done proper pinmuxing in board file for the GPIO-54 and not used any where."
I have ensured that the GPIO54 is not used anywhere while checking for the interrupts, but I haven't really done any pin muxing, I have just used them straight away. How do I check that or go about doing that? I checked the /arch/arm/mach-omap2/board-am3517evm.c but didnt see anything there.
I also wanted to thank you and @Dino for the speedy replies and all the help