Step 1 : Getting the most recent stable version
To install Cake PHP you first need to download the latest stable version from the CakePHP website at www.cakephp.org, once at the website click on Downloads > Release.
Download link : http://cakephp.org/downloads/index/nightly/1.2.x.x
Step 2: Unpacking
Now that you’ve downloaded the most recent release, place that compressed package on your web server in the webroot. Now you need to unpack the CakePHP package. There are two ways to do this, using a development setup, which allows you to easily view many CakePHP applications under a single domain, or using the production setup, which allows for a single CakePHP application on the domain.