First you need to get a bigger T.V and some surround sound equipment , a cabinet to house all the wires parts etc., blackout blinds for the windows and some comfy seating for at least as many people as you have living there. This will never be an actual home theatre as you can not close it completely but it can be quite good with some imagination.

here is my floor plan here i have living room adjacent to lobby. my living room is for both purpose formal as well as informal. therefore dillema is the partition. if i seperate the living room with door and wall from lobby then it will be constraint for living area and if i let it open then privacy will be compromised from formal guests.

Thanks Cornerstone. I was actually looking forward for your response as you guys are quite regular on the discussions. Coming back, the kitchen adjoining the open to sky area is actually being used as a storeroom. For your reply 1) As I mentioned the existing drawing room serves dual purpose of living and drawing which becomes very messy and nigh impossible to keep clean for suprise visitors. also coz of the open area , the rooms are prone to mosquitoes and flies. Coming back to my question I would like to know budget friendly solution for covering the open area. ( I did consider opting for a skylight but the cost was off the charts) 2) Wardrobe and door Now that the drawing will be freed up, I don't see any use of the wardrobe in the new plan. I don't have any clarity of ideas for the rear dining area as to how deal with the very dark wardrobe( which I'm open to remodel it for another purpose) and the door that leads to the open area. 4) Thanks for the advise on the L shape sofa but my concern remains on the no. of seats would not be sufficient. Also would the L shape look better on the long wall or the wall with the passage door. 6) One more thing that bothers me is the yellow check pattern on the floor. How do I make the furniture, in terms of Color, complement the floor. Thanks again for your reply. Cheers

Only the Sofa Char-- wooden type.. that is only interesting.. .rest all are heavily placed... the front wall has lots of elements which does not make anymore focus on any such object at a time