Hello joshiks7,
Though I am not very old in the AV world, I am putting forth my 2 words..
Since you have not mentioned whether you are looking for a package or wd be building the system by putting components together....There are 2 routes which you can take:
1) Either you can go and straightaway purchase a HTIB package. There are HTIB packages like Onkyo, Denon, Yamaha and many other brands. Which I think start from around 25k and go up.
2) The second way is to put the components together like getting the AVR, floor-standing speakers for front, satellites for rear (sides also if going for 7.1) and a sub-woofer. You can try and build this kind of system and try to fit it in your budget. This way I think you would get a better system than following the first option.
There are other threads also in this forum which I have come across who have asked similar questions. So you can always look around. All the best.