Space is actually not a big issue - there are tricks and tips you can do make it appear bigger. As for me,, I live in an apartment which is not really that big. Here is an article http://sandybayapartments.webs.com/apps/blog/show/19513868-practical-concepts-for-little-bedroom-area -- that serve as my inspiration in decorating on how I am to maximize my area. I am sharing this to you for I know this might help :)

Do you have any photos you can share? We do better with both floor plan and pix. I think the 9' area should be devoted to a library/reading nook with bookcases on the two walls and a comfy chair and floor lamp for reading. I see lots of doors but no windows in your space. The stretch of space from the entry to the balcony/gallery should be kept open for traffic flow, so Place the FP on the 7.5' wall to be seen upon entering. I think 'd try a sectional with two equal wings. Put the TV on the 7' wall between the two doors and float the sofa so one wing faces the FP and the other the TV. Use a credenza 25% wider than the TV rather than a TV stand. In the jog that has a 6' and a 4' wall, try a family game or chess table and stools. Be sure to get a big coffee table made of reclaimed wood so people can put their feet up on it.

These can be the best possible arrangements in any of your cases. Hope this helps :) Thanks n regards Space Design +91 9920656345

I don't prefer the given arrangements as it is blocking the way to balcony. Also the tv position is not perpendicular to watch. that's why I was asking for any alternate arrangements.