Hi Dilip..
Assuming that you already setup the INC file into your realview debbuger of your DDR and the imx50 knows exactly your configuration, this link will help you a lot.
http://infocenter.arm.com/help/topic/com.arm.doc.dui0474c/DUI0474C_using_the_arm_linker.pdf
in the page 37 you will find how to allocate your program into the ddr, in your case the, if everything is ok with your ddr, you may use --ro-base=0x70000000 --rw_base=0x70001000 just to leave some room for the code.
you can try using the internal ram in case that your DDR is not fully configured.
best regards
-ni