you need to be more specific about your room,do you already own any amplifier or player,are you going to use large screen tv,is this setup for music as well, if so, what is the music:movie ratio.
you decide which components you need and split your budget for each, with the max possible amount for your speakers. then look for speakers within your allotment, almost all range of speakers have been written about in this forum.
once you narrow down your speaker choices, it will be easier.
Assuming you already have the TV/projector-screen set up, you could allot 35k for an AVR, 60k for speakers and 5k for cables and interconnects.
AVRs like Denon 19xx, Onkyo 6xx, Yamaha 6xx, Pio vsx 5xx series would be roughly in that budget.
At 60k, stick to 5.1 at the max, otherwise you will have to compromise. You can add two speakers later.
ok, have you calculate the required tv size as per your viewing distance?which tv are you planning to get?
as for your other requirements, go for good speakers an then select your AVR.
you should audition polk,kef,(both are available in Profx) klipsch,jamo (both from cinebels), other forum favorites like wharfeale,quad etc
AVR is usually Marantz,Denon or yamaha.
if you like,you can also go the used way, wherein you an try to get used midlevel speakers at the price of new entry level speakers.