You dont need to separate options.Get the best possible in your budget and OC that system.
my suggestion would be(core,with approximate prices):
Core i5 2500k @Rs. 11000
Asus P8p67 PRO @Rs.13000
G.Skill RipjawsX F3-12800CL9S-4GBRL @Rs.3500 (Add another for dual channel RAM and more space + performance if you want to)
MSI HD6970 Lightning @Rs.22000 (top of the line.Add another for crossfireX if you want more performance but much more cost )
Corsair GS700 PSU @Rs.5500
Cooler Master HAF-912 Advanced @Rs.5000
Seagate Barracuda ST2000DL003 2TB SATA III HDD @Rs.5500
Corsair H70 CPU Cooler @Rs.6000
Sony AD-7260S-ZR SATA II ODD @Rs.1200
total = Rs.72700
If you are using a desktop right now that has SATA II or higher HDD and DVD ODD with enough Storage for your needs then you can shave off some money by reusing them.Thats what I have done on my new setup,no regret whatsoever.
I will be honest with you,the logitech G500 mouse at Rs.3500 is much better than the Razer imperator.Most people who buy Razer fall for marketing strategy.I know a few people across the world who will agree with me that Razer has worse build quality than logitech.A G110 keyboard for Rs.3500 (MRP 4500) is a better buy than arctosa.
I have had 2 G5s,a G700 and a G500 at home and I can say that the G500 kicks some serious butt.
Not saying all their products are bad tho,their deathadder was great in its time.
I hope you have decided on a 1.1kVA or higher UPS because you chose a 700W PSU.
You can switch your GFX card to a GTX 570 if you want.
Take a look at this review:
HIS Radeon HD 6970 2 GB Review - Page 7/33 | techPowerUp
Check out the game performances of the 6970 and the GTX 570 and decide for yourself which card you want.If GTX 570 it is then get the Palit GTX 570 Sonic Platinum
For your setup,either will be good enough for most games.
The GTX 570 has physx and 3DVision (needs 120hz monitor + nvidia glasses).For surround gaming you need 2 or more.
The HD 6970 has eyefinity and 3rd party 3D (single card can do it,although performance will be hit in 3D and eyefinity).
Good luck and keep us posted.