Aayush said:
Jean-Paul Sartre would tell you that with absolute freedom (of choice) comes absolute alienation. (Damn Existentialists!

) Yeah, we get siezed up with TOO many good things, lol.
That's quite a small room you'll be loading with equipment, so bookshelf speakers (and a decent subwoofer) should be adequate for your needs. With your budget, you can move into some very nice acoustic company. From Great Britain you have several wonderful speaker options in Monitor Audio and Mission. Dali from Denmark offers some fine equipment. Italy offers a few choices, with Sonus Faber being the Ferrari of the bunch. (You'd have to stretch your budget just a smidgeon.) IMHO, I'd nudge you to especially audition Vienna Acoustic speakers from, where else, the home of Mozart. They will provide you with a high performance monitor in a timeless design and under your budget (with a bit of negotiation).
I have nothing to say about Jamo, as I've not heard them. They have received both good and not-so-good reports here on Audioholics. Nevertheless, I'd counsel that you should not buy them to satisfy that
want-it-now urge we all get. You'll be living with these speakers for some time, and you'll maximize your pleasure if you do your research and find what most appeals to you.
You're quite a ways from Mumbai, and even further from Delhi. Be sure to research the internet dealers. You will lack the ability to audition before purchase with many of these speakers, but most will let you return equipment (without charge, except for shipping) for 30 days after delivery.
As for those I mentioned:
http://www.viennaacoustics.com/flash.html#
http://www.sonusfaber.com/index.html
http://www.monitoraudio.co.uk/
http://www.mission.co.uk/
http://www.dali.dk/
(Dealer networks are available on all manufacturer websites.)
There are, of course, many more from which to choose. But these are grand performers.