This arrangement works much better, but some adjustments are needed to make it work. First, the fireplace grouping needs to be tightened. It crowds the dining area and you need a passageway behind the couch. Turn the rug lengthwise, parallel to the fireplace. Pull the large couch about 2 1/2 feet closer to the fireplace, and place the two chairs and loveseat on the ends of the rug, and pull them closer together. This will give you a more intimate conversation area, and not impose on the other areas of the room. Remove that floor lamp from behind the couch. If you need the light in that area, put it by the fireplace. Also, the stereo system on the mantel needs to find another home. Maybe it can go IN the fireplace instead. At the other end of the room, I think the arrangement would look better if the seating were rotated 90 degrees. Keep the rug and coffee table in its current configuration, place the sofa either facing the window or with its back to the window, and put the two chairs opposite it. Finally, the dining area. Now that you've moved the big leather chairs, you should have enough room. Your rug is too small. It should be big enough to give you at least a 2 ft. border all the way around when the chairs are pushed in. And it's a really beautiful table; please uncover it. I can't see what kind of lighting that area has. It really needs a pendant or chandelier hanging directly over the table.

These things are generally a matter of making the whole picture work -- one setup could look better with white blinds, another with dark or bright. But I must say the mention of orange with grey and brown makes me smile.

To make space for 3 study tables including your wife's, you must get rid of the steel almirah. Have an extended open wall shelf of 3 rows for books & storage & 2 spaces next to each other for desktop/laptop where there is currently one. The right side wall near the small kids table can be made into soft board for ideas etc and then have the marker board next to it. Above this table can be small open squares for toys/books etc. Use eco blinds instead of curtains to regulate light & cool the room if you want to make the space serious. Remove the clutter under AC and have cushions/fabric seater to make it a lounge area instead. Use mutiplugs or extn wires to reduce wiring. You may consider a good quality designer fan with pendant LED light which will amplify lighting and ensure silent reading or studying. Else, use an effective LED tube on both sides with a blue themed fan.

The spaces look beautiful and warm. My suggestion wood be, to retain the warmth . Add some wooded flooring here and there along with some rugs. Since the whole colour pallette is creams and browns. Use a warmer shade for the rugs like a darker brown or beige or add white rugs just to break the beige monotony. Some accent furniture in black or dark brown leather would add some aesthetic as well. You can try popping in some plain red chairs as well. Try to avoid patterns in the furniture and rugs so that they don't clash with the flooring.