there is no perfect dimensions for an island. Try to organce space subdividing into smaller cabinets of 60x60 cms which is the max space for a structural division and works for seating area as well

The island works in the plan provided, you might even make the island longer. 42" clearance will work between island and cabinets (36" if not much trafic, and no appliance door swings).

@Cornerstone design studio: Apologies for making big post; thought that more info will help. @Rupal ji, If it sounds like I dont need any changes; my apologies for that. Let me put it in short,"I am looking for options that give modern facilities without leaving good things from old charm/ comforts. " Thanks for the straight forward comments. I shall try to edit my original post to make it simpler and that looks open to new ideas.

Totally doable as long as the island is not too bulky. And of course if the circulation space around the island is at least 3'-0" wide. You don't need too much space to move around in a kitchen because you should be able to pick up a hot dish and put it down on another surface without having to move too much. 12'x14' is a large size and a work island would possibly make the space more practical to use. In the pictures attached, the work island is only 2' wide but 4' feet long