diff --git a/ENV_SETUP.md b/ENV_SETUP.md
new file mode 100644
index 000000000..6796c3db6
--- /dev/null
+++ b/ENV_SETUP.md
@@ -0,0 +1,134 @@
+# Environment Variables
+​
+Environment variables are distributed in various files. Please refer them carefully. 
+
+## {PROJECT_FOLDER}/.env
+File is available in the project root folder​
+
+```
+# Database Settings
+PGUSER="plane"
+PGPASSWORD="plane"
+PGHOST="plane-db"
+PGDATABASE="plane"
+DATABASE_URL=postgresql://${PGUSER}:${PGPASSWORD}@${PGHOST}/${PGDATABASE}
+​
+# Redis Settings
+REDIS_HOST="plane-redis"
+REDIS_PORT="6379"
+REDIS_URL="redis://${REDIS_HOST}:6379/"
+​
+# AWS Settings
+AWS_REGION=""
+AWS_ACCESS_KEY_ID="access-key"
+AWS_SECRET_ACCESS_KEY="secret-key"
+AWS_S3_ENDPOINT_URL="http://plane-minio:9000"
+# Changing this requires change in the nginx.conf for uploads if using minio setup
+AWS_S3_BUCKET_NAME="uploads"
+# Maximum file upload limit
+FILE_SIZE_LIMIT=5242880
+​
+# GPT settings
+OPENAI_API_BASE="https://api.openai.com/v1" # change if using a custom endpoint
+OPENAI_API_KEY="sk-" # add your openai key here
+GPT_ENGINE="gpt-3.5-turbo" # use "gpt-4" if you have access
+​
+# Settings related to Docker
+DOCKERIZED=1
+# set to 1 If using the pre-configured minio setup
+USE_MINIO=1
+​
+# Nginx Configuration
+NGINX_PORT=80
+```
+​
+## {PROJECT_FOLDER}/web/.env.example
+​
+```
+# Enable/Disable OAUTH - default 0 for selfhosted instance
+NEXT_PUBLIC_ENABLE_OAUTH=0
+# Public boards deploy URL
+NEXT_PUBLIC_DEPLOY_URL="http://localhost/spaces"
+```
+​
+## {PROJECT_FOLDER}/spaces/.env.example
+​
+```
+# Flag to toggle OAuth
+NEXT_PUBLIC_ENABLE_OAUTH=0
+```
+​
+## {PROJECT_FOLDER}/apiserver/.env
+​
+```
+# Backend
+# Debug value for api server use it as 0 for production use
+DEBUG=0
+DJANGO_SETTINGS_MODULE="plane.settings.selfhosted"
+​
+# Error logs
+SENTRY_DSN=""
+​
+# Database Settings
+PGUSER="plane"
+PGPASSWORD="plane"
+PGHOST="plane-db"
+PGDATABASE="plane"
+DATABASE_URL=postgresql://${PGUSER}:${PGPASSWORD}@${PGHOST}/${PGDATABASE}
+​
+# Redis Settings
+REDIS_HOST="plane-redis"
+REDIS_PORT="6379"
+REDIS_URL="redis://${REDIS_HOST}:6379/"
+​
+# Email Settings
+EMAIL_HOST=""
+EMAIL_HOST_USER=""
+EMAIL_HOST_PASSWORD=""
+EMAIL_PORT=587
+EMAIL_FROM="Team Plane <team@mailer.plane.so>"
+EMAIL_USE_TLS="1"
+EMAIL_USE_SSL="0"
+​
+# AWS Settings
+AWS_REGION=""
+AWS_ACCESS_KEY_ID="access-key"
+AWS_SECRET_ACCESS_KEY="secret-key"
+AWS_S3_ENDPOINT_URL="http://plane-minio:9000"
+# Changing this requires change in the nginx.conf for uploads if using minio setup
+AWS_S3_BUCKET_NAME="uploads"
+# Maximum file upload limit
+FILE_SIZE_LIMIT=5242880
+​
+# GPT settings
+OPENAI_API_BASE="https://api.openai.com/v1" # change if using a custom endpoint
+OPENAI_API_KEY="sk-" # add your openai key here
+GPT_ENGINE="gpt-3.5-turbo" # use "gpt-4" if you have access
+​
+# Github
+GITHUB_CLIENT_SECRET="" # For fetching release notes
+​
+# Settings related to Docker
+DOCKERIZED=1
+# set to 1 If using the pre-configured minio setup
+USE_MINIO=1
+​
+# Nginx Configuration
+NGINX_PORT=80
+​
+# Default Creds
+DEFAULT_EMAIL="captain@plane.so"
+DEFAULT_PASSWORD="password123"
+​
+# SignUps
+ENABLE_SIGNUP="1"
+​
+# Email Redirection URL
+WEB_URL="http://localhost"
+```
+## Updates​
+- The environment variable NEXT_PUBLIC_API_BASE_URL has been removed from both the web and space projects.
+- The naming convention for containers and images has been updated.
+- The plane-worker image will no longer be maintained, as it has been merged with plane-backend.
+- The Tiptap pro-extension dependency has been removed, eliminating the need for Tiptap API keys.
+- The image name for Plane deployment has been changed to plane-space.
diff --git a/README.md b/README.md
index f9d969d72..79d1ef431 100644
--- a/README.md
+++ b/README.md
@@ -39,33 +39,31 @@ Meet [Plane](https://plane.so). An open-source software development tool to mana
 
 The easiest way to get started with Plane is by creating a [Plane Cloud](https://app.plane.so) account. Plane Cloud offers a hosted solution for Plane. If you prefer to self-host Plane, please refer to our [deployment documentation](https://docs.plane.so/self-hosting).
 
-## ⚡️ Quick start with Docker Compose
+## ⚡️ Contributors Quick Start 
 
-### Docker Compose Setup
+### Prerequisite
+Development system must have docker engine installed and running.
 
-- Clone the repository
 
-```bash
-git clone https://github.com/makeplane/plane
-cd plane
-chmod +x setup.sh
-```
+### Steps 
+Setting up local environment is extremely easy and straight forward. Follow the below step and you will be ready to contribute
 
-- Run setup.sh
+1. Clone the code locally using `git clone https://github.com/makeplane/plane.git`
+1. Switch to the code folder `cd plane`
+1. Create your feature or fix branch you plan to work on using `git checkout -b <feature-branch-name>`
+1. Open terminal and run `./setup.sh`
+1. Open the code on VSCode or similar equivalent IDE 
+1. Review the `.env` files available in various folders. Visit [Environment Setup](./ENV_SETUP.md) to know about various environment variables used in system
+1. Run the docker command to initiate various services `docker compose -f docker-compose-local.yml up -d`
 
-```bash
-./setup.sh
-```
+You are ready to make changes to the code. Do not forget to refresh the browser (in case id does not auto-reload) 
 
-> If running in a cloud env replace localhost with public facing IP address of the VM
+Thats it! 
 
-- Run Docker compose up
 
-```bash
-docker compose up -d
-```
+## 🍙 Self Hosting 
 
-<strong>You can use the default email and password for your first login `captain@plane.so` and `password123`.</strong>
+For self hosting environment setup, visit the [Self Hosting](https://docs.plane.so/self-hosting) documentation page
 
 ## 🚀 Features
 
diff --git a/apiserver/Dockerfile.dev b/apiserver/Dockerfile.dev
new file mode 100644
index 000000000..f1c9b4cac
--- /dev/null
+++ b/apiserver/Dockerfile.dev
@@ -0,0 +1,52 @@
+FROM python:3.11.1-alpine3.17 AS backend
+
+# set environment variables
+ENV PYTHONDONTWRITEBYTECODE 1
+ENV PYTHONUNBUFFERED 1
+ENV PIP_DISABLE_PIP_VERSION_CHECK=1 
+
+RUN apk --no-cache add \
+    "bash~=5.2" \
+    "libpq~=15" \
+    "libxslt~=1.1" \
+    "nodejs-current~=19" \
+    "xmlsec~=1.2" \
+    "libffi-dev" \
+    "bash~=5.2" \
+    "g++~=12.2" \
+    "gcc~=12.2" \
+    "cargo~=1.64" \
+    "git~=2" \
+    "make~=4.3" \
+    "postgresql13-dev~=13" \
+    "libc-dev" \
+    "linux-headers"
+
+WORKDIR /code
+
+COPY requirements.txt ./requirements.txt
+ADD requirements ./requirements
+
+RUN pip install -r requirements.txt --compile --no-cache-dir
+
+RUN addgroup -S plane && \
+    adduser -S captain -G plane
+
+RUN chown captain.plane /code
+
+USER captain
+
+# Add in Django deps and generate Django's static files
+
+USER root
+
+# RUN chmod +x ./bin/takeoff ./bin/worker ./bin/beat
+RUN chmod -R 777 /code
+
+USER captain
+
+# Expose container port and run entry point script
+EXPOSE 8000
+
+# CMD [ "./bin/takeoff" ]
+
diff --git a/apiserver/plane/settings/local.py b/apiserver/plane/settings/local.py
index 6f4833a6c..76586b0fe 100644
--- a/apiserver/plane/settings/local.py
+++ b/apiserver/plane/settings/local.py
@@ -12,6 +12,10 @@ from .common import *  # noqa
 
 DEBUG = int(os.environ.get("DEBUG", 1)) == 1
 
+ALLOWED_HOSTS = [
+    "*",
+]
+
 EMAIL_BACKEND = "django.core.mail.backends.console.EmailBackend"
 
 
diff --git a/docker-compose-local.yml b/docker-compose-local.yml
new file mode 100644
index 000000000..4f433e3ac
--- /dev/null
+++ b/docker-compose-local.yml
@@ -0,0 +1,178 @@
+version: "3.8"
+
+networks:
+  dev_env:
+    driver: bridge
+
+volumes:
+  redisdata:
+  uploads:
+  pgdata:
+  
+
+services:
+  plane-redis:
+    container_name: plane-redis
+    image: redis:6.2.7-alpine
+    restart: unless-stopped
+    networks:
+      - dev_env
+    volumes:
+      - redisdata:/data
+ 
+  plane-minio:
+    container_name: plane-minio
+    image: minio/minio
+    restart: unless-stopped
+    networks:
+      - dev_env
+    command: server /export --console-address ":9090"
+    volumes:
+      - uploads:/export
+    env_file:
+      - .env
+    environment:
+      MINIO_ROOT_USER: ${AWS_ACCESS_KEY_ID}
+      MINIO_ROOT_PASSWORD: ${AWS_SECRET_ACCESS_KEY}
+ 
+  createbuckets:
+    image: minio/mc
+    networks:
+      - dev_env
+    entrypoint: >
+      /bin/sh -c " /usr/bin/mc config host add plane-minio http://plane-minio:9000 \$AWS_ACCESS_KEY_ID \$AWS_SECRET_ACCESS_KEY; /usr/bin/mc mb plane-minio/\$AWS_S3_BUCKET_NAME; /usr/bin/mc anonymous set download plane-minio/\$AWS_S3_BUCKET_NAME; exit 0; "
+    env_file:
+      - .env
+    depends_on:
+      - plane-minio
+ 
+  plane-db:
+    container_name: plane-db
+    image: postgres:15.2-alpine
+    restart: unless-stopped
+    networks:
+      - dev_env
+    command: postgres -c 'max_connections=1000'
+    volumes:
+      - pgdata:/var/lib/postgresql/data
+    env_file:
+      - .env
+    environment:
+      POSTGRES_USER: ${PGUSER}
+      POSTGRES_DB: ${PGDATABASE}
+      POSTGRES_PASSWORD: ${PGPASSWORD}
+      PGDATA: /var/lib/postgresql/data
+
+  web:
+    container_name: web
+    build:
+      context: .
+      dockerfile: ./web/Dockerfile.dev
+    restart: unless-stopped
+    networks:
+      - dev_env
+    volumes:
+      - .:/app
+    command: yarn dev --filter=web
+    env_file:
+      - ./web/.env
+    depends_on:
+      - api
+      - worker
+
+  space:
+    build:
+      context: .
+      dockerfile: ./space/Dockerfile.dev
+    container_name: space
+    restart: unless-stopped
+    networks:
+      - dev_env
+    volumes:
+      - .:/app
+    command: yarn dev --filter=space
+    env_file:
+      - ./space/.env
+    depends_on:
+      - api
+      - worker
+      - web
+
+  api:
+    container_name: api
+    build:
+      context: ./apiserver
+      dockerfile: Dockerfile.dev
+      args:
+        DOCKER_BUILDKIT: 1
+    restart: unless-stopped
+    networks:
+      - dev_env
+    volumes:
+      - ./apiserver:/code
+    command: /bin/sh -c "python manage.py migrate && python manage.py runserver 0.0.0.0:8000 --settings=plane.settings.local"
+    env_file:
+      - ./apiserver/.env
+    depends_on:
+      - plane-db
+      - plane-redis
+  
+  worker:
+    container_name: bgworker
+    build:
+      context: ./apiserver
+      dockerfile: Dockerfile.dev
+      args:
+        DOCKER_BUILDKIT: 1
+    restart: unless-stopped
+    networks:
+      - dev_env
+    volumes:
+      - ./apiserver:/code
+    command: /bin/sh -c "celery -A plane worker -l info"
+    env_file:
+      - ./apiserver/.env
+    depends_on:
+      - api
+      - plane-db
+      - plane-redis
+
+  beat-worker:
+    container_name: beatworker
+    build:
+      context: ./apiserver
+      dockerfile: Dockerfile.dev
+      args:
+        DOCKER_BUILDKIT: 1
+    restart: unless-stopped
+    networks:
+      - dev_env
+    volumes:
+      - ./apiserver:/code
+    command: /bin/sh -c "celery -A plane beat -l info"
+    env_file:
+      - ./apiserver/.env
+    depends_on:
+      - api
+      - plane-db
+      - plane-redis
+
+  proxy:
+    container_name: proxy
+    build:
+      context: ./nginx
+      dockerfile: Dockerfile
+    restart: unless-stopped
+    networks:
+      - dev_env
+    ports:
+      - ${NGINX_PORT}:80
+    env_file:
+      - .env
+    environment:
+      FILE_SIZE_LIMIT: ${FILE_SIZE_LIMIT:-5242880}
+      BUCKET_NAME: ${AWS_S3_BUCKET_NAME:-uploads}
+    depends_on:
+      - web
+      - api
+      - space
diff --git a/space/Dockerfile.dev b/space/Dockerfile.dev
new file mode 100644
index 000000000..d1128a588
--- /dev/null
+++ b/space/Dockerfile.dev
@@ -0,0 +1,11 @@
+FROM node:18-alpine
+RUN apk add --no-cache libc6-compat
+# Set working directory
+WORKDIR /app
+
+
+COPY . .
+RUN yarn global add turbo
+RUN yarn install
+EXPOSE 3000
+CMD ["yarn","dev", "--filter=space"]
diff --git a/web/Dockerfile.dev b/web/Dockerfile.dev
index d4281c9a3..29faedef7 100644
--- a/web/Dockerfile.dev
+++ b/web/Dockerfile.dev
@@ -8,4 +8,4 @@ COPY . .
 RUN yarn global add turbo
 RUN yarn install
 EXPOSE 3000
-CMD ["yarn","dev"]
+CMD ["yarn", "dev", "--filter=web"]