Kiran, I don't know anything about VS.NET. (That's a problem you run into on a Java site ) But a couple of things to try:
1) Does VS.NET let you change the version of Java to point to one you have installed on your machine? 2) Does VS.NET let you run your .asp files outside the tool in your browser? Many Java IDEs let you use the server in the IDE while running in your "real" browser.