I am new to Mac but used Ubuntu for development for a long time. I know how to create virtual hosts in Ubuntu but have no idea about Mac. I have created a hosts
Adding to the answer of Ritesh
You probably also want to add a directory configuration in your httpd.conf similar to the one that is already there, but for your the document root of your new server.
For Example:
Options All
AllowOverride All
Order allow,deny
Allow from all
XSendFilePath "/Users/username/Sites/mysite"