SMALL BOX Solution - To control/reduce power consumption in household electrical appliances?
First off be very careful when dealing with mains power! You can really hurt yourself or start a fire.


  I want to know the internal electronics design, microcontroller used,
  any other timer ICs, Transistors etc used and want to design on my
  own. Please help me in getting the circuitry please.


You can easily make one with a microcontroller, relay and several other parts (the most complicated part would be getting 3.3 or 5vDc, and that's not too tough.) I designed a similar unit for my work.

To get you started, you should look into using a simple microcontroller (MCU) board like an Arduino to keep the time and switch the relay (turn the outlet on and off.) It would be connected something like this:



The Arduino can keep the time fairly accurately (enough for this type of application, probably off by around 5 to 10 mins a year,) but you could use a real time clock IC if you want to be more accurate. If you're familiar with MCU's you can take a look at Atmel's real time clock app note, it's a bit complicated if you don't know what your doing; and you don't need to go that route if you use the Arduino's software.

You would probably want a display and some buttons to see and set the current time, and on and off times. A 7 segment display (like in the picture below,) would work or you could even use a cheap LCD display like this uses. However you can do without them if you just want to set it all on a computer via USB. 

Another thing to consider is a battery backup to keep the time, and other settings saved would be nice too, however you can go without it if you want and you can save the time to the eeprom every 10 mins so that if the power does fail it will come back relatively close to the correct time. You don't want to save the time too often since eeproms have a limited amount of writing before they stop working (in an Atmel AtMega, I think it is ~100,000 times.)

Here are two walkthroughs on what's involved (2 links but the same project I think, I didn't read through to see if they are exactly the same or not though.) Arduino controlled outlet and Controllable Power Outlet.

Here's a picture of a similar device I designed for my work.



(The processor and power regulation parts are under the 7 segment display.)