Hi @gskittu -
How do you desire to use the generic list?
If it is just for populating the dialog properties then you can store it anywhere but with the matching resource type
acs-commons/components/utilities/genericlist/datasource
But, you might loose out on the ability to edit the lists, as the Generic lists interface used to create/update lists would read or update from /etc/acs-commons/lists hierarchy. You also need to ensure that the acs commons user has the required read permissions to the location where you intend to store the lists.
Hope this helps!
Ref usage: https://adobe-consulting-services.github.io/acs-aem-commons/features/generic-lists/index.html