Well, I found a sweet way to provide this feature. What I did is that in the DataTemplate of the listBox I binded the parent layout enable property with the boolean flag using Page as Source.
Step 1 - Provide the x:Name attribute to the page. If the page you are using is extended with base page than make sure that the base page is not an abstract class and has an default constructor without any arguments.
<Page x:Class="OPMS.Views.Registration"
xmlns="http://schemas.microsoft.com/winfx/2006/xaml/presentation"
xmlns:x="http://schemas.microsoft.com/winfx/2006/xaml"
xmlns:mc="http://schemas.openxmlformats.org/markup-compatibility/2006"
xmlns:d="http://schemas.microsoft.com/expression/blend/2008"
x:Name="MainPage"
d:DesignWidth="1024"
Title="Registration"
>
Step 2 - Use the Page as a source for the DataTemplate parent layout items IsEnabled property
<ListBox Grid.Row="2"
ItemsSource="{Binding TestGroups}"
AlternationCount="2"
Padding="0"
Margin="10,5,10,10"
>
<ListBox.ItemTemplate>
<DataTemplate>
<CheckBox Content="{Binding Name}"
IsChecked="{Binding IsSelected}"
IsEnabled="{Binding Source={x:Reference MainPage}, Path=DataContext.BindingVariableHere}"
/>
</DataTemplate>
</ListBox.ItemTemplate>
</ListBox>