It's highly likely though their are plenty of remote control ICs around, but this seems the most probable since it's specifically designed for this purpose.
The receiver in the suggested design isn't very good. I would recommend using a crystal with a slightly lower of higher frequency to generate an IF and build a superhet, oh and it'd be FM not AM.
@HobbyCNC
wow thats cool find.iam not sure abt the chips but they r matching with the chips i have.i wish i could get them here.
thanks.
and thanks to all of u for the help.