Download Python package of required version from : http://www.python.org/getit/releases/
Say, version required is 2.6.6
# wget http://www.python.org/ftp/python/2.6.6/Python-2.6.6.tgz
# tar -xvf Python-2.6.6.tgz
# cd Python-2.6.6
Configure and Install Python for user :
#./configure --prefix=/home/user_name/Python-2.6.6
# make
# make install
Python Binary for the user will be : /home/user_name/Python-2.6.6/bin/python and to check version :
# /home/user_name/Python-2.6.6/bin/python --version
That's All..!!