So finally i have resolved the issue. so instead of using

import { useSendTransaction } from "thirdweb/react";

use the following

import { sendAndConfirmTransaction } from "thirdweb";

sendAndConfirmTransaction waits for the transaction to approve and then moves forward and that allows the proper waiting and then the transfer function goes well.

use it like as follows

await sendAndConfirmTransaction({
    transaction: tx,
    account,
});