1. Copy app/code/core/Mage/Page/etc/config.xml File to app/code/local/Mage/Page/etc/config.xml and between “” tag paste the code below If u have no app/code/local/Mage/Page/etc/config.xml on this link then please copy app/code/core/Mage Folder To past on this location app/code/local/Mage
2. Register your custom module by adding a new file (Mage_Local.xml) to app/etc/modules by pasting the code below
After this go to Admin->CMS->Pages->Add New Page->Design........here into the “Layout” dropdown you must see the new layout name you just created ("Home Page” in my case). Now create a New page and assignt this layout ("Home Page") to it.
3. Now create a file with the name home-page.phtml under app/design/frontend/default/default/template/page and create own layout as per design