The increasing requirement or demand of quadcopter drones has led to significant development and advancements in various fields, including agriculture, surveillance, and disaster response. However, the expensive hardware such as flight controllers, transmitters, and receivers limits the wider adoption of drones, particularly in countries like India. This study conducts a comprehensive literature review of affordable, cost-effective, do-it-yourself (DIY) drone solutions, focusing on making these important hardware components more available to students and hobbyists. By analyzing research papers from 2014 to 2024, this study highlights strategies for cost-effective structure and hardware components of drones. The findings suggest that Homemade flight controllers, combined with open-source software, could foster innovation and practical applications in drone technology. The review aims to empower students to build cost-effective drone systems, contributing to India's growing drone industry.