One possibility would be to swap the living room and the dining room. Since the current living room is larger than the current dining room you could still keep some comfortable seating (couch and upholstered chairs?) against the front wall for a keeping room/dining concept. Then your new dining areas (kitchen and dining room) and living areas (living and drawing room) would have good flow between them, which would work well both for family and entertaining. You could also add some builtin bookshelves in the drawing room or new living room to create a library area to add another fun element to the living areas. These bookshelves could be against the long walls in the drawing room, around the window with a window seat in the living room (former dining room), or built to create some separation in the open area between the drawing room and living room/stair area. Your plan seems to show some sort of builtin there, but I'm not sure what it is.

Seems weird not to incorporate it into the design -- I'm all about having things "look intentional" rather than working around them later. Like could the island have connected to this, rather than extending past it? or been L-shaped, so there's room for an extra stool, and also a wall cabinet? Anyway, hard to discuss that in the abstract without kitchen plans. I'm with miacometlady's original advice to not worry about it right now, and decide how to deal with it once the bulk of your kitchen is in place. You might find that you hardly notice it, with all the beautiful new finishes, or it might seem obvious to put some stainless or glass shelves there, or maybe simple is best and one simple hanging picture does the job. Don't stress about it until After. :)

What a beautiful house, Shahbaaz! I live in a similar house - a 150-year-old colonial bungalow in Kumaon. You have already received lots of excellent advice from better-qualified people, so all I would say is, keep its age and heritage character the central theme. The white tiles do clash, I am afraid ... flooring with terracotta tiles would echo the roof and look lovely. The columns and the arches over the doors and windows are amazing. But I'd say, leave it all chuna-painted - there's a beauty and softness to it. Don't let the painters add too much neel (indigo) in the limewash -- in the hills where I live, they put far too much if I don't watch out and the result is a harsh white. Natural lime has a softer, creamy look.

Concrete gives more premium look i feel if i consider it for a long span of time... Steel will cost alot and plus it will require maintenance. Any guesses how can cost effective moulds can be created of such shape if we wana do it with concrete?