@JaganathP Can you describe your use case a bit more?

Generally there is nothing wrong with a node-level DP having parameters. One thing to watch out for is memory consumption, which is a product of the size of an individual page, how many accesses with different parameter values you expect within a given time frame and if the settings for Clear pages after non-use and Limit to a single data page are enabled.

Usually you would choose a node-level DP if you only expect a few instances of it to be present in memory at any point in time (i.e. few different parameter values) or if each DP instance is very small.