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Is it necessary to get at least PR 1 your domain age matters for eg.. if any site launch in Feb 2013 and it's working well then google will update it's Pr or not?
PR changes every day. Google updates server, where PR data are accessible for mortals like you and me for all indexed site at once. Domain age doesn't matter.
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Domain age is a factor in SEO but it is not a factor in pr increase or decrease, your page rank will increase or decrease according to activities you have made on your website.
When it comes to PR, domain age matters. Older the domain age, higher is the PR. However, you must be aware that only domain age is not the determining factor. Your website also should be aged. Besides domain age and website age, your contents should also be of quality.