I had tried loong back in 1992 something building AM transmitter(which got only one transistor which IIRC was a AC128 old germanium one) and FM transmitter kit where available from firms(now also) with condensor mike connected.easy!
@Kothamangalam:go to ernakulam tomson electronics for all these kits!lot are available.
if u want FM for communication,why not get circuits(assembled) for powerline intercoms?it is easy!but be careful
even few FM DXing circuits and amplifiers are pleanty(FM DXing is getting FM from long distance of 500kms+ in ur reciever using custom dipole and amplifier or old vhf tv booster).
I have seen a guy(a electronic repair guy) in my place who is hearing koyambathoor FM channels,and trivendrum,kannur,calicut,thrissur FM channels,all stereo.many ppl in kerala are doing FM DXing for hobby purposes.
long back it was HAM and SWL which was the craze.I have made circuits for SWL(short wave listening) to connect to existing radio.
but ,now I am completely out of touch