Sainath,
I'm trying to build a rig for myself too. My budget (minus a monitor) is a little under $2,000USD. Where I am for overclocking, you may want to rethink or downgrade some of the fans, etc...but maybe not, if you ever do decide to overclock. For nothing else, cold=good. It's not the best, but pretty competitive....I think. Here goes:
Case:
http://www.newegg.com/product/product.asp?item=N82E16811129021
Antec Nine Hundred Black Steel ATX Mid Tower Computer Case
Mobo:
Newegg.com - EVGA 122-CK-NF68-T1 LGA 775 NVIDIA nForce 680i SLI ATX Intel Motherboard - Retail
EVGA 122-CK-NF68-T1 LGA 775 NVIDIA nForce 680i SLI ATX Intel Motherboard
Vid Card:
http://www.newegg.com/product/product.asp?item=N82E16814130072
EVGA 768-P2-N831-AR GeForce 8800GTX 768MB 384-bit GDDR3 PCI Express x16 HDCP Video Card
PSU:
Newegg.com - OCZ GameXStream OCZ700GXSSLI ATX12V 700W Power Supply 100 - 240 V - Retail
OCZ GameXStream OCZ700GXSSLI ATX12V 700W Power Supply 100 - 240 V
CPU:
Newegg.com - Intel Core 2 Duo E6600 Conroe 2.4GHz 4M shared L2 Cache LGA 775 Processor - Retail
Intel Core 2 Duo E6600 Conroe 2.4GHz 4M shared L2 Cache LGA 775 Processor
RAM:
Newegg.com - G.SKILL 2GB (2 x 1GB) 240-Pin DDR2 SDRAM DDR2 1066 (PC2 8500) Dual Channel Kit Desktop Memory - Retail
G.SKILL 2GB (2 x 1GB) 240-Pin DDR2 SDRAM DDR2 1066 (PC2 8500) Dual Channel Kit Desktop Memory
HDD1:
Newegg.com - Seagate Cheetah 15K.4 ST373454LC 74GB 15,000 RPM 8MB Cache SCSI Ultra320 80pin Hard Drive - OEM
Seagate Cheetah 15K.4 ST373454LC 74GB 15,000 RPM 8MB Cache SCSI Ultra320 80pin Hard Drive
HDD2:
http://www.newegg.com/product/product.asp?item=N82E16822144701
Western Digital Caviar SE16 WD2500KS 250GB 7200 RPM 16MB Cache SATA 3.0Gb/s Hard Drive
GPU Cooling:
http://www.newegg.com/product/product.asp?item=N82E16835118001
ZALMAN VF900 – CU 2 Ball VGA Cooler
CPU Cooling:
Newegg.com - ARCTIC COOLING Freezer 7 Pro 92mm CPU Cooler - Retail
ARCTIC COOLING Freezer 7 Pro 92mm CPU Cooler
And then I have a few 120mm Case fans.
I also left out the DVDR drive, cus I'm still not sure about that. All-in-all, that'll run you approximately, $2,000USD-ish. I hope this helps. If thats more than youre looking for I'd skimp on the vid card, maybe the 8800GTS 320MB might serve you well, as well as maybe skimping on the Mobo a bit. Another thing you could downgrade is the RAM to DDR2 800.
Anyways, that's my 2 cents, I'd be interested to see what people have to say about my potential build. Hope this helps...