welcome to the forum. im personally not into surround sound - im a stereo guy - but am sure a lot of other members will look forward to your contributions.
First a warm welcome to Anand and Pradeep.
Now a little digression. AFJ, I think I am going to enjoy berating you to start listening to and enjoying some multi channel music. What say?
perhaps i will drop in to your place one day and listen to your system and be convinced. am sure that albums made in the 7.1 format sounds better - but does a normal cd recorded in stereo sound that much better? my theory is that you get much better quality of music from a 2 channel than a 5.1 channel with your budget being a constant