Nithun, I find your idea very interesting. I really love to see people thinking in "the new" agriculture.
As the problems you were asking:
-Lack of knowledge: Ikea manuals, be simple and never technic. -Lack of time: Modular (and automatic) system. Think in making it more social, as it could have social rewards, you could be more motivated to improve (see running apps) -Space: Think vertically, as here http://assets.inhabitat.com/wp-content/blogs.dir/1/files/2014/02/Pipe-greens.jpg few space necessary and a good looking view.
And finally, try to think internationally, as I´m European I think it would work great here with the idea of urban gardens, that are starting to be popular here.