Problem:
Since, I have a slow internet connection I brought chrome offline installer from a internet cafe and installed it. Suddenly I realised that it wouldn't be a bad idea to update it online. Update failed saying Update server not available( error: 3). Here is a fast solution.
Solution:
Read patiently I won't tell u to install chrome again in full. I will show a fast method to this solution using the online installer but not installing it in full. Download chrome online installer. Now open the taskmanager (ctrl + alt + del), and keep a watch on the processes tab. Start the ChromeSetup.exe file which you just downloaded. As soon as you see a process called Googleupdate.exe in the processes tab exit the installation. That's it, this will install the Googleupdate.exe. Now goto google chrome and try update. It won't show error:3 anymore.