OK... but the wire wont be lower as it is fixed now. The wire in the pics below is the wall facing each other. They were leveled on equal height but the beam on one wall makes it seem a little above. But i think you guys are absolutely right that up and down lights wont look good there. I think you are right about down lights lessismoore. Would it look good if i go with two different lights on opposite walls??? it would look odd right.

In that space you will only really have room for some seating and a DR table and chairs I would be looking fo a long low shallow unit for the media pieces and hang the T.V. on the wall 10.5 ' is very narrow. The room in these pics is almost exactly the same size as yours , if you see where the empty fireplace is that is where I would put your T.V. and then wap the bench for the sofa .

I wish you all the best for your renovation. One of the most positive thing about the house is space looks convenient. To start of with the designing, 1. first let us start with a creating a focal point, now that the sofa Color is Blue, let us try creating a palette (photo attached) starting with blue, so we can paint white Color on the walls. 2. let us put on two mirrors on both sides of adjacent walls of the curtain which makes it look spacious and reflects light. It gives a cool effect. Even when the curtains are covered. 3. U many use a rug to match the Color of sofa and white walls. Make sure the rug is either beige or a combination of blue, white and grey hues. So that it complements everything well. 4. U may paint the wall behind the TV grey or give it a wooden panelling effect with wallpaper or tiles. That makes a focal point. 5. Increase the height of TV stand with Aluminium or Stainless steel rods, u will find them in the market and paint it white. (Photo attached)

Hi @Aditya Somani. Before going with any color, you must take time and understand the tone you are looking for. Even if you consider on going grey, which is awesome; try to acknowledge the tone by warm palette or cool palette. The warm tone is recommended as it works more on the psychological level. Hope this helps.