As a general rule, I would not run an AVR or any audio gear under power conditioning device or a UPS of any kind, unless the line itself is so bad or unstable. For surge, use a good quality surge protector strip from Belkin( The most expensive one. I know this one works as I have used it)). If voltage does not fluctuate too far off the mark, your audio gear will run just fine. Keep the audio power source on a separate phase and one that isn't on load from from high surge devices such as Air Conditioner, Water Heater, Water Pump, etc. Most Metro and Metropolitan cities in India have fairly good and stable power today.
I used to live in Bangalore. Power was quite reliable (Apart from the odd shut down) and I did not use any power or surge devices for my HT. I did use a cheap surge protector for my Hi Fi and that was primarily cause there were insufficient number of sockets for me to plug in my gear.
Switch off AV gear at the plug overnight or when it is going to be left unused for a while. Never ever leave it on stand by for extended period. You may have to deal with some inconvenience over HDMI hand shake but I'd rather deal with waiting a few minutes versus the risk of leaving the devices in Stand By. Even with a surge protector in front of your AV devices, there is still a small risk of the surge protection device not acting fast enough to a surge.
I fully agree with the above. I recently spoke to a naim dealer in uk ( signals hifi in Ipswich ) regarding power conditioning and mains filtering. He was completely against using one, as he found even the top of the line ones rob off dynamics. His advise was to get a dedicated mains line for the hifi first. And even if this doesnt help, next was to add a high quality 1:1 ratio isolation transformer. Even better if we can get 2 isolation transformer on 2 dedicated lines from mains, so that sources and high power amps can run off on two dedicated power rails.
So that is something I intend to try in my next vacations. Plus I will be adding a CVT to supply both the isolation transformers. Luckily my mains box is in the corridor outside my flat in my building complex. So I plan on installing these large CVT and isolation transformers in the corridor. And then run dedicated lines into my room. Will post back with my observations if it is really worth the pain