Deepcool Frostwin + some case fans. or you can get corsair h40 liquid cooler at that price. COOLER MASTER CPU COOLER HYPER 412 SLIM is also a good choice.
May I suggest this one?
Cooler Master: Hyper 212 EVO
On Flipkart:
Cooler Master Hyper 212 EVO Cooler - Cooler Master: Flipkart.com
You can use this with your Socket 1150 board since the cooler mount is the same as for the Socket 1155 used by Ivy bridge.
I am using the same cooler, but for my Ivy Bridge Core i7 3770K, and I have replaced the single fan with two of these in push-pull configuration:
Cooler Master XtraFlo Cooler 120mm Red LED - Cooler Master: Flipkart.com
No, you will get it with the cooler itself in a separate plastic syringe like one you buy separately from the market and you must need to apply TiM to fill the gap between the cpu heat spreader and cooler.