I am extremely sorry guys, my Diploma in Java classes started on 26th August and I have been busy since then. And I didnt think that people will reply to this thread after someone pointed me out that this is desktop section alone. So I went ahead and created a thread on laptop section, where I didnt get much replies and so I thought digit community died and never checked back on this thread. Until now.
I decided on getting Lenovo Z500 @ 45k on my own, and by comparing specs on flipkart and I decided by myself that the GT 740M seemed the most recent GPU that fits my budget.
I do find the Z500 to be comfortable, and I got a Lenovo backpack as a freebie with myorder. I also got 1 year accidental damage protection and 2000 Rs Lenovo voucher with the bundle(both of which have still not been activated by lenovo after registration).
I am not entirely sure if I made a mistake with this decision, but I guess I can always go for a high end laptop after I get a job :3 So thank you all for the replies that you people have given on my thread and I hope to become an active member on thinkdigit once again.
PS: I think the laptop section is not as successful as the desktop section in terms of member activity. So I suggest to the mods that the laptop section be made into a sub-forum under the desktop section.