Is it possible? Absolutely. No question about it. That's an answer to your first (and second) question.
How much minimum speed is required? All depends on how much traffic you intend to generate. The more people you get to your site, the faster your UPLOAD speed will need to be. That's your third question.
What other necessary requirements to establish server? Well now. This just opens up a can of worms.
Let me step sideways. Did you happen to search Superuser.com for this information BEFORE you asked your question? You know... for the times that people asked the same question before you did? How about some basic research with Google or another search engine?
Run Web Site From Home
Web Hosting at home on Old Hardware (closed)
How to make own web hosting server computer (closed)
Hosting online with xampp?
Hosting a web site at home: ISP Blocking port 80?
Now, the closed ones are still there, they were just closed and are not accepting any further answers... for the reasons detailed on those pages. And those are just 5. See, when people ask questions here that have been asked before, the questions get closed as duplicates. When people ask questions and show that they didn't do any basic research, their questions get downvoted... and usually closed.
The Internet is FULL of tutorials on hosting a web site/running a web server from your home connection. So, you should go and search. Read Tutorials. Set one up. And, if you run into a SPECIFIC problem, come on back and post that SPECIFIC problem, and we'll try to straighten you out.