The problem is just the floor , wall are easy , since you can treat them as entity but floor is tough. I dont know how to use event_friction yet , it seems my manual is outdated since I am not getting any help there, is this covered in the new manual, so I will download it.

Second , yes this seems to be a good solution that as long as the object has vertical speed and it collides, sounds of varying intensities may be produces, this is actually working to some extent, but the problem still exists.

I will work on this code if, I manage to get it right, I will post it here.
Thanks guys.