Hello Diwakar
1. If the system is hosted by the SAP Cloud Ops team and you have absolutely control right to both target and source system as a customer, it should be doable. Please request the transport configuration by reporting a SAP incident.
2. The system is hosted by SAP Cloud Ops team and they are the only party who can setup the transport route between the on-demand system.
3. SAP Cloud Ops team only handle on-demand system that is hosted by them. In the 4.0 system, you can export the content into a file first and import it manually into a on-premise system. However i have not tried that on a 5.0 and higher system yet.
Regards.
YS