virk_ps:
lets say it is 1000hz so sampling period would be .1 milli sec
1000Hz is 1.0 millisec not 0.1 millisecs.
The device is capable of sampling at 4.8kSps
The default SPI clock rate on a 16MHz Arduino is 4000khz which implies a transfer rate of about 400,000 bytes per second so if there are 3 bytes per sample that would allow for about 130,000 Sps - far more than the ADC can do. (Hope my deliberately conservative maths is about right).
And if the data needs to be sent onwards using Serial then, at 500,000 baud (about 50,000 characters per second) if each message has (say) 5 bytes the max throughput would be about 10,000 Sp - still adequate.
None of that is achievable even using a single delay(1).
...R