That's a big room and you need good amplifiers/ speakers with high SPL to fill the room. Can you post some pictures?
Taga Harmony package would work but you would need to up the budget at least by another 50-75K to get an AVR and Sub to fill the room. Entry level AVRs might not be able to handle the volume in long run. Also for your room size, you would need a sub which has at least 10 inch driver. Many out here are likely to recommend two sub woofers. This alone would need special allocation of budget!!
It would be good if you go for mid-variants of AVR Denon X3400 or Marantz SR5012/13. Please audition as much as possible to know what kind of speakers you like (bright or warm).
I do not want to scar/e you but if you try to fit into the budget, then you would have to upgrade soon, as entry level setups are not going to justify 21 X 21 space. The subs that are part of 5.1 packages are generally low powered and meant for rooms that are much smaller than yours.
If you want to live with a setup that would keep you happy for 3-5 years, this is what I would suggest:
Decent Sub ~ 50(single SW) -70K (double SW)
5.0 TAGA 606SE ~ 32K
AVR ~ 70K (with warranty and GST bill)
I see an outlay of at least 1.75L without considering a source (HTPC or blu ray player) and just looking at a setup meant for HT alone.
Try to put in answers for these questions (get answers from the family as well) and set the goal that you intend to achieve:
- Is 85K a strict stopping point in terms of budget? Do you have hidden budget ;-) ? If you have any surplus to allocate, would your family approve of it? The spouses have uncanny knack of reminding the spend on audio systems every time you refuse/ postpone shopping item of their choice. Would this money better spent somewhere else? I bought a pair of premium bookshelves but ended up selling them as they do not
- After you invest almost a lac, you would start worrying about power fluctations and then think of power conditioners, stabilizers, inverters etc. Would you be scale up to these demands?
- what purpose are you going to use HT for? Movies alone? or TV as well? How important is the 5.1 experience to you? Some of the FMs here clock many hours in HT. If you belong to this clan, then it is justified.
- Do you need an audiophile music listening setup as well? If yes, then you might have to up the budget for the speakers. If not, Taga would serve you well.
- Would you be okay to live with just a stereo system instead of surround? If you are not a HT buff, even good stereo system can deliver the content without much shortfall. As a bonus, you will have exhilarating listening experience. However, Stereo set ups come with their own problems. The speakers would demand 2-3 feet space around them as if they are some deities in the temple. Your room is likely to command that speakers are placed 5-7 feet into the room get the 3D imaging of stereo. But, if you have toddlers or irate teens as kids at home, speakers are at risk.
- Is your room apt for HT? While many crave for HT, we end up compromising on speaker position because of multiple objects in the living room - passages, windows, show cases etc. If you cannot position the speakers appropriately, then it is better to go for a stereo. It is easier to place two speakers than five.
Audition as much as possible before placing orders.