HI -- Well this is a nice floor plan but it creates problems . Because the space is all open doesn't mean you have to put the living room or the dining room where indicated on the plan . Also where you have marked for the sofa is not going to work there . Not enough room and in the way of getting to the bathroom etc, I do think you may have to have a free floating TV stand between the living -dining rooms . You could have the TV on the wall beside the kitchen and have the sofa facing or on the left wall and the dining at the front . I would put the TV on the left wall near the entrance and have the sofa facing it , leaving a hallway walking space behind the sofa . It's too bad the front entrance is on the left . If it had been on the right then that would be better flow into the center of the main floor . If you do decide to have the TV room divider where you show on the plan , keep it right over to the left wall as a room divider , then it won't cut the room in half so much and it keeps the stairwell open . Remember , you do not need to push the furniture against the walls .

Is there already a chimney in place? The space looks very small, so consider a thin stone veneer and a small, electric fireplace for the look without the need for major construction. See Houzz photos under "electric fireplace" for ideas of style, incorporating storage.

Hey, Thanks for nice article that has been written in very a good manner.I really like your living room.Really houzz is a wonderful platform where one can get beautiful tips and ideas for house decor.A living room is the space where persons spend plenty of time, so it is vital to make a composed atmosphere.If you need inspiration for designing your living room, you have to choose the right color,material and furniture needed to make the living room a better place,therefore it is advisable you should contact with interior designer for this work as they have a good knowledge and ideas.The finest advice while beautifying a living room is to find a balance between current and flexible stuff

example: winding staircase, source internet Little modification need to be done for entrance lobby opening, where you could accommodate a shoe rack and the complementary vertical wall can act as a amazing entrance decor wall wall in Kerala style heavy color play or texture/wall cladding with brass mural.. by doing this you get space to mount TV unit and a good space for sofa arrangement (make sure sofas are light as the space is less to accommodate baggy sofas), staircase can be made in the shape shown in sketch plan, with marble finish on the foot steps (or as per interiors), space in the bottom of staircase next to master bedroom wall can be utilized for chest of drawers or a tall furniture, make sure the staircase bottom part to be casted smooth in finish.