Hi Unju,
I think in theory it should be possible, but it does come with a lot of complications.
You can develop offline without any internet connection so also without connection to *.mendix.com. Your mendix development setup is on your own pc and doesn't necessarily need any connection to the cloud. However services like the team server, or sprintr will not be accssible then.
If you are using a private repo & cloud setup, then this doesn't necessary have to be a problem, but it might sometimes be really inconvenient.
If you are using Mendix Team Server and Cloud then I think it will be nearly impossible to do full on development.