I apologize for missing this message when you first posted it, @Raghu_Mittal! There is agreement for adding a new action to the XForms spec to support the feature. The behavior I'm imagining is that when the action is first triggered, the device will start a location request. Every time it gets a location update it will write the latest update to the node specified by ref. Once either a certain accuracy is reached (5m?) or a certain amount of time passes (20s?) the updates will stop. This could be configured at the device level which it looks like is what you've done @Raghu_Mittal.
The APK crashes on launch so I haven't been able to try your implementation, @Raghu_Mittal. Did you use a similar approach for writing the point out?
On the XLSForm side, we can start by only allowing a single GPS point collected this way and do it with a fixed type and name in the same way as other metadata: http://xlsform.org/#metadata.