I have Multiple auto cad Topology files to be processed in such a way that i should be able to convert the layer data (poly-line) from dwg file to polygon feature class.
These poly-lines are having a reference information which are held up in a reference label next to the drawing. These label hold 3 key information related to the features.
In old days the feature in dwg (lets say a TREE) was referenced with the labels which hold important information like tree height, species, girth and width of that tree. This task is being automated.
I need to process the data in such a way that i gather this tree related information by fetching it into ArcGIS in a way such that when a user will do and identify on the feature, he should be able to see them in the attribute table.
Could you please rephrase your question? ArcGIS desktop can read AutoCAD .DWG files as GIS data sets. Most Geoprocessing tools can be used to assemble CAD data together into GIS data files in various ways. You can assemble CAD text values as attributes of polygons using either FEATURE TO POLYGON or a SPATIAL JOIN.
You mention the term "topology files" in an AutoCAD drawing? An AutoCAD .DWG is a file and TOPOLOGY objects are not part of an AutoCAD file, unless you may be referring to AutoCAD Map 3D or Civil 3D or some other AutoCAD ad-on product? Creating data with Esri's free ArcGIS for AutoCAD is another great way to interoperate between ArcGIS and AutoCAD.