<p>I am fairly new to WPF. I want to develop a datagrid control which supports databinding.</p>

<p>There is a lot of information available about databinding to existing controls, but I cannot find any information how to develop a control from scratch which supports databinding. </p>

<p>I do not expect a simple answer to this question, a link to get me started would be nice.</p>

Are you planning to build a DatGrid control?. There is one here
http://www.codeplex.com/wpf/Release/ProjectReleases.aspx?ReleaseId=14963
Binding is one of the important features of WPF, Dependancyproperty actually gives a control the ability to bind and listen to data change events(Data Binding).
When you develop your control you dont need to do anything special to make the DataBinding work, just need to define appropriate Dependency properties to the control,
You can read more about DataBinding here
http://msdn.microsoft.com/en-us/library/ms752347.aspx