Hi there,
The 2500k is an excellent choice. This is the best cpu you can get. The i7 is there, but 'literally' you won't notice any difference. I sort of think its more for the ignorant people that intel has all those more expensive processors.
.........
Motherboard, get a z68 board. Why it has the ability to run both the internal graphics that the i5 processor provides and an addon graphics card 'simultaneously'. A P67 board you 'will' have to add a card and the graphics in the i5 can't be used. The graphics in the i5 is 'very very' good in transcoding video. So you don't want to miss that.
And since your budget is only $600, you may not have money leftover to buy a graphics card.
The i5 will cost you more than Rs.12000
An Asus P8Z68 V gen3 will cost about Rs.14000
I am suggesting an Asus here because over many many years I have found Asus to have greater longivity than Gigabyte or MSI. Gigabyte when it goes bad they have excellent service in the larger cities (don't know about smaller ones), and they will repair even if it was our fault.
Please don't go above a p8z68 v gen3, its not worth the price. The gen3 is because its now ready for the new ivy bridge processors that will come out in May, and it has pci express 3. Also the p8z68 v (without gen3) doesn't have support a dual pci 16x. So the above board is the best for the money.
Ram, don't worry about speed and all those things. Makes hardly any difference.
Get a single 8gb stick to start with, since you need video 32 gb of memory is something that you can use.
Corsair gives a 10yr warranty with a price same as others, so I would suggest that.
Cooler, this processor can be overclocked like hell, 4.8GHz 24/7 is possible, but for that you would need a proper cooloer like a Corsair H100 which will set you back by Rs.7000.
For now you could get the Coolermaster hyper 212 evo. You should be able to get 4.5GHz 24/7 with it. But you may have to dial it down during the summer and also clean it frequently depending on how dusty your area is. So as you can see you get only a little performance increase in getting the corsair h100.
Shops:
theitdepot.com
theitwares.com
lynx-india.com
smcinternational.in
primeabgb.com
deltapage.com
Hope this helped.