Yes, stick to the default, which I think is 0.9
To answer your questions, here goes 🙂
1. Does it mean that we should not provide Radiation BC to any surface? Though it same as material emissivity. Will it change results.
Yes, do not do this, it will cause you problems, just use the material definition.
2. If there is no circulation, still we have to give film coeff on top of ext volume @ ref temp of ambience. But it will be along with 0 guage pressure or should be only film coeff.
Both, P=0 and Film Coeff, just good practice and it means you do not need to worry if there is recirculation
3. Bottom surface of external environment will have 0 guage pressure and ambience temp. Other walls should also have BC of temp only . Am I right?
Up to you, personally I usually do not assign anything to the side walls incase it lowers the temperature artificially. It depends how close they are to the model - my approach is to leave them without
4. What should be the good guess for Air emissivity shall i go with 0.8 for all air volumes including external air?
0.9 as default
5. Other materials have default emissivity provided in your database. Is it OK?
Yes and No. If the emissivity is the same as your real world materials, all is OK. If it is different then you need to change it. CFD has default settings but they cannot account for customised finishes or different paint colours etc. It depends what you have in your model 🙂
With radiation this can have a huge impact so be sure that the values in CFD are the same as your actual model.