The wood is beautiful. To me, the wood has an oriental-Japanese-inspired vibe. This wall's paint is nice, if your can match. Here's a method of choosing wall paint: http://www.lindaholtinteriors.com/2011/07/testing-wall-color-101/ Can you keep just the curtain panels and remove the sheers? At a later time, a non-patterned curtain panel the color of wall. I saw the art and I think it is OK, but not for this room. Perhaps in a bedroom? I don't understand the theme you have going? Giraffes? Clocks? If you like clocks, remove the giraffes and buy something like a large round wrought iron "clock". Note also the rug, pillows & throw as inspiration for your room. Perhaps the TV console in a lighter tone wood like their end tables (your room = too much black).

OK... but the wire wont be lower as it is fixed now. The wire in the pics below is the wall facing each other. They were leveled on equal height but the beam on one wall makes it seem a little above. But i think you guys are absolutely right that up and down lights wont look good there. I think you are right about down lights lessismoore. Would it look good if i go with two different lights on opposite walls??? it would look odd right.

Perhaps a large round table might mean a rug is not at all necessary. It could be a metal tray table, or carved wood like Rebecca Mitchell Interiors illustrates. Ideas also to consider, using multiple tables can be found at http://www.houzz.com/multiple-coffee-tables. I also agree with comments above that some color is needed on the walls. You could then hang round mirrors, or an unusual curved shape like RMI shows above.

What a beautiful house, Shahbaaz! I live in a similar house - a 150-year-old colonial bungalow in Kumaon. You have already received lots of excellent advice from better-qualified people, so all I would say is, keep its age and heritage character the central theme. The white tiles do clash, I am afraid ... flooring with terracotta tiles would echo the roof and look lovely. The columns and the arches over the doors and windows are amazing. But I'd say, leave it all chuna-painted - there's a beauty and softness to it. Don't let the painters add too much neel (indigo) in the limewash -- in the hills where I live, they put far too much if I don't watch out and the result is a harsh white. Natural lime has a softer, creamy look.