Sunil,
I friend of mine purchased this system last year and I helped him install it. It was pretty straight forward and tech support was excellent for clarification on hook up. He didnt get a contract for 24/7 monitoring but has the alarm call numerous phone numbers if an alarm is tripped. He loves the system and has had no problems with it. He really is obsessed with electronic gadgets and loves the remote to arm and disarm the system. It is extremely loud also is it goes off and his neighbors can definitely hear it, I think it has to due with the fact he mounted a siren on the front and rear of the house.