Customization of Registration Page

Is it possible to customize the registration page. I need to remove email id and add some extra fields in the page. Like House Number, Road No. Etc.

Sure, it is. But I don't think that you can remove email. It's used all over the application.
In order to know how to add some custom fields have a look at changeset a179ce882d6b (will be available in the next release)