Hi Thejas,
Just like datagrid , template grid also doesn't allow inline editing of items, you can edit only in edit page ,but i would suggest you to go for datagrid2 , it will allow you to have editable check box when you will set column type as custom-content.
Like Sharad says, the TemplateGrid does not allow inline editing. For a DataGrid however, you can set inline editing per column.
Depending on the use case, you could also select a ListView. Make sure to switch to editable to allow you to edit individual attributes.