Depending how vivid your scarlet is: You can go with white or cream so it really is the accent wall and nothing is shouting for equal attention You can also go for a muted grey or beige

Stay with light beige for your main pieces like the sofa and chairs. Add in other colors and patterns with pillows and throws. Keep the drapes simple and hang them high as possible (with a traditional height ceiling not a vaulted). It would help to have pictures and to know what style of furniture you prefer--modern, traditional or a mix.

Ashish That is a nice idea. However if you are going with light walls, I would say go darker with your furniture colour. If you use white or off white wall colour, go with a darker grey sofa. Though not very dark but at least 2-3 tones darker than your walls. Go with khadi texture on sofa covers. It looks very nice and is quite trendy. https://www.houzz.in/photos/vikram-phvw-vp~280 Something like this is a good option (regarding colour and texture) Mounting the tv on the wall is also a good option. What i will ask you to change is your coffee table. Replace it with with a glass or a wooden nesting table. Go for a set of 2 round ones with walnut polish (if it is wood) .Keep a small dari rug under it. use you wall paper on the wall on which you are mounting your tv or on the wall directly adjacent to it. separate your dinning and living areas.

Yes it should look good. However get a 200 ml bottle and test on a 2*2 feet area.