Skip the cooling till you actually OC, Till then the stock cooler will be absolutely fine.
In India, Nvidia cards are priced much higher than their AMD counterparts. For your budget get the Radeon HD 6950 1GB (reference) and maybe if you're lucky, you can even flash it to a 6970.
Which make is difficult to suggest without knowing your monitor. Need to know the ports available on your monitor.
Case: Corsair 400R. Absolutely the best value for money at your price range. It is the only high end case in India to be priced at the same level as the US.
The 912 which is priced at $60 in the US is priced at ~6500 in India($130) whereas the 400R priced at $100 is priced at <5000($105).
If you really wanna keep the Xfire option alive you will indeed have to invest in a 750 watt PSU. Get whichever suits your budget. If you're gonna be building it yourself, the AX being modular will help you with cable management. Else, personally, being a TX series user myself, I'll say get the 750TX and save some $$$. Both are 80+ (the AX being gold rated, HX silver and TX bronze - the former two, being modular).
PS: According to your OP, your primary usage doesn't seem to be gaming. If so, you can get a system for literally half the cost, which will also do just as well for your primary requirement of 'movie watching'.
That build will work just fine, this is what I'd recommend:
GPU: Go with EVGA - they're one of the best around, but I don't know what countries they're available in outside of the US
PSU: Go with the non-modular TX750 - I personally prefer non-modular PSUs but that's just me. They don't always work for some cases but with a bit of creative cable routing you'll do just fine. You might also want to check out PC Power & Cooling or Seasonic if they're available.
Cooling: Go with the Hyper 212 - the closed block liquid cooling is a good idea but if you have a strict budget, you'll get longer life out of your system with the Hyper 212. Water cooling is almost always a risk - even with the closed block systems, I only recommend it to people with the cash to spend, but a highly functioning air cooler like the Hyper 212 is almost always a fail-safe.
Motherboard: I use and highly recommend the Gigabyte GA-Z68XP-UD3. Also check out the EVGA FTW series - but those might run you a bit more and they're not available everywhere.
HDD: Both are good choices, I don't really have a preference with one brand over the other - just don't get Hitachi or IBM drives, but any of the other big brands are just fine.
Case: I have and really like the HAF 912 - but it is NOT made for big video cards. My ATI 5800 just barely fit in the case and makes adding or removing anything extremely difficult. I think I might be buying that 6770 pretty soon. If you want another suggestion check out the Antec 300 Illusion, Corsair Carbide 400R, or any other CM case.
RAM: RAM pretty much comes off the same assembly line - they're both good brands, and either one will last you quite a while.
Pardon my insistence, but that's only 'coz I can clearly see that you won't need a full tower - much rather put your money in what's inside the case. This is the last time though I'll speak 'bout it. I promise. I myself advise people to use the HAF912 as it makes so much sense at $60, but at $130 - I really don't think so - and by the way, it's a mid tower too, and a smaller one at that compared to the 400R.
Would stock cooler be enough while gaming?
Yes, it will absolutely be.
I'll be coming back to your all important GPU query a little while later or maybe tomorrow.
I strongly suggest you go outside and chop down some bushes or break some more jars and increase your budget a little bit more.
All kidding aside, the Corsair AX is a modular PSU, and the other one is simply a normal PSU. If you don't need the modularity, you can probably save some money there. And yeah, if you don't OC you can keep the stock cooler even while running a Prime 95 test, which is more intensive than gaming. But if you do OC down the line, you'll have to change it.
Customer care from all leading vendors is a major PITA unfortunately. And to make matters worse, there's just not enough choices.
You can pick up the GIGABYTE GA-Z68X-UD3H-B3 if it's available - prolly will be 'bout ~3K cheaper than the P8Z68 V-pro - or it's similarly priced cousins GIGABYTE GA-Z68XP-UD3 (a bit cheaper) or GIGABYTE GA-Z68XP-UD3P (a bit pricier).
As for PCIe 3.0, it is still gonna be backwards compatible so so as of now, not a biggie, but yes, you can get one in your budget, might as well.