Thank You Very Much sunita and everybody else for giving such great ideas , will implement till diwali and will definitely send you the photos . Paint , ceiling design and curtains are all set except Design for beds , paintings and hanging ceiling lights on the sides of the bed, rugs and other accessories. I have seen accessories (mentioned above) online websites like Pepper Fry , Amazon it will be great if you mention those here as I have to do everything in budget .

I feel partitions are not needed. You already have too much for the space. Adding a partition will shrink the space further. The simplistic solution, you do not wish to discard any furniture would be to paint all the walls in lighter pastles. And use some wall painting frames to highlight certain walls.

Why would you not want to use glass in those tall openings? It may be the main source of light for the interior of the building during the day. Unless you really can't bear so much sunlight or you are concerned about the lack of privacy at night. In which case you can use frosted glass instead of clear upto the top of the second slab level. Above that level you will get three vertical rectangular frames. You could commission stained glass panels for those. Alternatively, below the stained glass panels you could used wooden slats with gaps in between

Hey Harsha, yeah the bevelled mirrors look gorgeous, and blow the budget of a room on that. haha! You could also opt for back painted glass, or tinted mirrors, that way you'll add some flair of a reflective surface, but you won't need to spend too much on making the mirrors themsleves a quirky characteristic!