I'd highly suggest posting on the Home Theatre section to get better options than me. You can start from Yamaha 3072 5.1 HTiB which will cost you 42k for the entire system and will sound way better than most soundbars.
For receivers, a lot of folks are selling their non-atmos 7.2/9.2 Denon/Yamaha receivers for less than half the cost on the classified section. You can easily get an excellent 7.2 receiver for 25k used. Then for 75k you can go easily with the Polk 5.0 system and add a subwoofer to that, or go with their 5.1 setup. The benefit for this approach is that you can add a second subwoofer or rear speakers in a couple of years.
Alternatively, you can do what I'm planning to do. Just spend the 1 lakh on a great receiver with excellent 3.0/3.1 system, and then upgrade it little by little in the next few years. You won't get the urge to upgrade and at the end, you'll get an amazing system. For wiring, you hire a professional with the wire tubing/piping kit and get it done in a day. Or learn how to do it and do it DIY.
If you want to go with soundbars, here is a decent deal:
Buy LG SL8YG 3.1.2 Channel 440W Sound bar at Reliance Digital
Q800T goes for as low as 40k at times, LG SL10YG went to 47-50k on sales, JBL bar 9.1 can be had for 70k if you bargain and if you really really want a high-quality soundbar, Samsung Q950T.