Hi Atish, this is not possible, but it's an interesting question. Can you provide some more information about your goal? What parts of the Parcel API are you interested in using to edit standard feature classes? It should be noted also that any parts of the API (geometry/editing/geodatabase etcetera) can be used on the parcel fabric feature classes, and that you are not limited to use the Parcel API exclusively when making customizations for the parcel fabric.
-Tim
