I think the yellow and grey might bring out the gold-ish-ness of the couch.. I'd try to go with more blue colors.. Maybe some navy pillows and a rug with the blue in it as well. The curtains, that ying-yang rug, and the lilac rug just gotta go.. They're dwarfing all the sophistication this room will be able to have with that tile floor and those big beautiful windows. I love the dining room chairs!

The very first thing to be done while starting renovation is to collect images/photos of your dream villa from the internet or from any neighbouring site, that suits your style and way of living. See what all components i.e. furniture and furnishings i.e. door window, flooring, electrical fixtures, false ceiling, wall paints, fabrics, a.c. and modern amenities that you want to accommodate, their material, colour and texture, because that is what will serve as the foundation for your budget. The budget is the most important thing in this kind of projects. The budget vs your dream. for e.g. if you have imagined using wood, or some italian marble (which are quite expensive) in your home but if it doesn't go according to your budget then you must keep your alternatives listed and researched very well., which is the key consideration before starting any renovation project.

Either, you can paint all the walls with light grey or white colour. Or, highlight one wall with light grey colour and rest of the walls can be white.

When the sunlight doesn't touch the wall surface, white tends to look grey and dull. Window Walls tend to have this problem especially if none of the adjacent walls have windows. One trick to liven up the window wall is to paint it in a rich, warm yellow tone. As shown in the attached picture. But don't paint any other wall in the room in this colour, as it will be overwhelming.