Hi Dhinesh,
I think I have a solution for your problem:
var value1= JSON.stringify(response.cost_date);
console.log(value1); // e.g. "/Date(1376179200000)/"
value1 = value.substring(7,20); // maybe it's safer to work with regular expressions
console.log(value1); // 1376179200000
jQuery.sap.require("sap.ui.core.format.DateFormat");
var oDateFormat = sap.ui.core.format.DateFormat.getDateInstance({pattern: "yyyy/MM/dd"});
console.log( oDateFormat.format(new Date(Number(value1)))); // 2013/08/11
RW