Have you ever thought about floating shelves? I think pairing a few floating shelves together would look great and would free up space in your living room. I really like the Eugene floating shelf from Bryght and I think it would compliment your existing pieces. http://www.bryght.com/product/160/eugene-cocoa-shelf

You need art on the wall and a rug and color! Your first step is to purchase an inspiration piece. That piece will either be a rug or a large piece of wall art. That sets the color palette for pillows chairs windows and walls. Wall color is last. Find out if you can have electricals inside the wall. I am guessing you are not in US and house is solid brick or this is a basement space as it looks quite industrial.

11' across x 14' can be a decent conversation zone. You have a nice window without too many privacy issues - good natural light, nice view of tropical foliage. The higher ceilings seem to be one of the things that will help the room feel larger - here's a completely different approach for you to consider . . I would instead make the beam a feature - wrap it in stained wood boards (that match or just a 1/2 tone darker than your entry doors) to make it seem a real beam - the small beam that comes out to meet it might be painted black and some faux black bolt heads and plates applied to get it to feel more rustic industrial / loft - afraid a fake ceiling is going to look cheap. The wood and black above will work with the off white walls. Consider instead of texturally painting the tv wall - let the "canvas" of all the walls stay uniform if you want this to feel large. The back wall is not the best for television anyway, if you want the room to feel large - the wall to the left of the door - (no window there, eh?) is the right place for a large flat screen wall mounted sort of center in the room (that appears to be the non-operable side of the double entry, typically unused) . Do a narrow console table underneath with drawers and lower shelves for the cable box. That can also be your laydown space and the rest of the room starts to live larger. I would run a large sectional in the beam recess area with the short end coming back just to become a lounge under the window (hang a stained board on angle brackets as a custom sofa shelf on the wall in the recessed end to fill it and provide a place for drinks) - the "beam" will make seating feel sort of sheltered there. It will work together . .you have a good long run nearly 8' there. If you want the room to feel big, a long sofa with a turn so many can gather for conversation is the best approach. Split the power for the television into two (easy 1 hour of electrician), patch this wall and hang wall mounted black iron sconces above the sofa back at two locations designed for the length of your sofa. Use a round iron and wood table at the sectional and a pair of great, small scale modern chairs facing the window set on the opposite wall. Consider a large scale modern abstract over the back of the sofa, and a gallery of black and white graphic photos framed in natural wood with black mats around the television on the tv wall. To the left of the window, hang some black iron hooks on a wall mounted wood board. With the wood, white and black iron, select your accent color carefully - neutrals for the main pieces - maybe some saddle leather for the chair pair. Color only in art - play off the green and white outside

first of all, Thank you guys for those valuable inputs. yes, as far as cleaning goes, its just been finished installing and I have asked them to clean them up. And also, I observed that the frosting on the glass didn't look that good, so I am going for the filming on certain portions of the doors n windows. - Is there a particular quality of films that I may choose for this ? - Yes, lighting is definitely the criteria I had in mind which can bring up the finish to this. And i am worried about this , as I did not go for False Roofing, bcos the ceiling is already at a low height. I should really refine my ideas on the lighting part. - the stairs are floored with white Marble stone..My mom loves it and the matting on it might hinder its beauty, but yes I will surely consider that as well. Thank you again.