Configure error while installing graph-tool on ubuntu 14.04

So I spent a whole day trying to find out the solution for this. I am trying to install graph-tool on my machine with 14.04 OS. Initially I was unable to succeed because I didn't have gcc 5 on my machine. After installing it, I am trying the following:

./configure CXX='g++5'

and I get the following error:

===========================
Using python version: 2.7.6
===========================
checking for boostlib >= 1.54.0... configure: We could not detect the boost libraries (version 1.54 or higher). If you have a staged boost library (still not installed) please specify $BOOST_ROOT in your environment and do not give a PATH to --with-boost option.  If you are sure you have boost installed, then check your version number looking in <boost/version.hpp>. See http://randspringer.de/boost for more documentation.
checking whether the Boost::Python library is available... no
configure: error: No usable boost::python found

I see no solution on the mailing list of graph-tool or stackoverflow about this problem. I would be really grateful if somebody could help me with this.

Thanks in advance.