I added a todo for release: update the install doc.
https://openacs.org/bugtracker/openacs/bug?format=table&bug%5fnumber=2902
Karthik, if you are feeling adventurous continue with that doc and post your questions here (if you take notes we will integrate them into the doc).
If you are not feeling as adventurous you might want to wait a week or two (.LRN 2.2 beta should include an updated install document).
You can follow progress on release here:
https://openacs.org/xowiki/pages/en/.LRN+2.2+Release