Thanks mweidmann and @jd_ for your replies.
So I understand that 4Gb address space can be divided into a number of slaves and also that all 32 bits of address of course need not be
used.
Regards,
Chandan
Shorter answer this time, "yes".
However if you don't use all 4Gb of the address space, you should put a "default slave" in your system that will be selected whenever the address might stray into the unused portion of the 4Gb space.
This "default slave" can then drive HREADY and HRESP back to the master, usually to signal an ERROR if the master has tried to read or write to those unused locations, or OKAY if the master is just signalling an IDLE transfer.
JD