I am trying to develop a stand alone application in c++ using the c++ libraries provided for building cpp-ethereum client (http://www.ethdocs.org/en/latest/ethereum-clients/cpp-ethereum/building-from-source/linux.html), is it possible to do so?
You can, but there is intentionally NOT any published C++ API for cpp-ethereum.
The published API is the JSON-RPC APIs and the command-line. Anything else is subject to change-at-will. We have been spending months reorganizing the code back into the cpp-ethereum repository, and the library boundaries within those are likely to change a lot too.
Other clients, like geth and Ethereum(J), are creating native APIs which sound like the kind of type which you are looking for.
Such APIs are not currently planned for cpp-ethereum, though maybe we will get there later. For now you are best sticking at the JSON-RPC level, which will have the nice side-effect of keeping you largely client-independent.