I myself found a solution for this problem. If anybody wants this requirement use it.
Put the following code in catalog.xml
<block type="catalog/product_new" name="home.catalog.product.newest" alias="product_rightcolumn" template="catalog/product/newest.phtml" after="-"/>
Create a newest.phtml file with the same code of new.phtml. And here you change the design according to the right column.