Thanks everyone for help.
For those who are recommending Dell 15R, I am quite sure that CPU will be a huge bottleneck for that laptop. Gaming is not my sole purpose and in coming time I may have work with heavy CPU intensive applications. Also 8850M is an AMD card which has compatibility issues with various games like Battlefield 4 etc. In such games it will not be able to perform at it's full potential because of driver issues. Thus having an Nvidia card is not bad either, of-course 8850M would be faster than GT 740M, but i7 4500U is there to compensate the same and even make it worse.
On the other hand HP Envy 15 has a very powerful CPU and average GPU, the GT 740 M (with 64bit ). However, it will crush the Dell in CPU intensive applications but may lose in very high graphics demanding games.
Also HP has beats audio which will give better movie watching experience.
I am getting more inclined towards HP at the moment. I need you views on Envy 15 laptop which I mentioned.
Yes the ULV CPU is going to bottleneck the 8850M, but not just about the CPU or the GPU ...IS IT ?
Its their combined performance which determines how goof the laptop is going to be in games.
For eg take the US equivalent of the Envy j048( Core I7 4700MQ/GT 740M)
Review HP Envy 17t-j003 Notebook - NotebookCheck.net Reviews
and a Dell system with a ULV CPU and the GT 750M( I am going to use it because there aren't any BM's available for the 8850M)
Review Dell Inspiron 15-7537 Notebook - NotebookCheck.net Reviews
If you compare the FPS levels in the Gaming Benchmarks section , you will notice that the ULV equipped Dell system crushes the HP system when it comes to providing FPS in games.( AND THAT IS ALL THAT MATTERS)
Cheers!
Abhijit
man... y500 is well within your budget.
Lenovo Ideapad Y500 (59-379647) Laptop (3rd Gen Ci7/ 8GB/ 1TB/ Win8/ 2GB Graph) Rs. 68349.0 Price in India - Buy Lenovo Ideapad Y500 (59-379647) Laptop (3rd Gen Ci7/ 8GB/ 1TB/ Win8/ 2GB Graph) Dusk Black Online - Lenovo: Flipkart.com
heres the link to flipkart.
and about its performance... it crushes all laptops out there except the laptops with gtx 760m and above.
Anyways.. Its your decision.
PS : word of advice... never compromise on the processor. I did with my old hp laptop and repented it later. given a choice between i7 Q and 750m.. choose the i7 Q cause during gaming....cause... unless u r using throttlestop... the processor will stay at its base-clock only.
And about the dell laptop.... the 750m in it will be bottlenecked by the i7 ulv as proven by Abhmkh. The 750m can touch 3000 levels in 3dmark11 with stock clocks provided its paired with a strong enough processor.
on a different note... the dell laptop is better than the hp laptop when it comes to gaming... cause the 740m with its 64bit bus will pretty much be useless when made to perform on a 1080p screen.
What are you talking about ? , According to notebook check, the maximum a GT 750M scores on 3d Mark 11 is 2735(Which I am sure must be with a Quad Core Proccy)
*www.notebookcheck.net/NVIDIA-GeForce-GT-750M.90245.0.html
This means a system with a ULV CPU/GT750M-8850M scores only 5% less than a system with Quad Core/Same graphics.
I am happy to trade off that much performance for the spectacular battery life !