I would prefer to have six seaters daily, and I guess family room will be the place where we might be staying for a long time, also its the place where my visitors are going to sit too. This is not only a rectangle box, it's an open plan living space. Please find the uploaded pictures taken in 2 different angles of the space I am talking about

I would prefer MODERN interior theme

This is not comprehensive help- but I know a few things about making small spaces functional. Consider using a banquette with storage for your dining table. Barring a banquette, use at least one bench for seating. Get one of those ottoman coffee tables with sorage inside for your living room. Go to IKEA and look at all their shelving and wall storage ideas carefully. I waited too long to do this and missed out the advantages of having a half wall of completely concealed storage. I used some flat fronted IKEA wall mounted cabintets. Nesting tables are useful for when you have guests. You will find your space adequate- there are many furniture sources for small spaces. Just keep planing. When space is tight, there are not many layout options. You just have to make sure everything you buy is perfectly suited/adapted to your needs. Do your absolute best to give yourself some kind of entryway where you can hang up your- and everyone else's- coat and handbag, drop keys and mail. A small table and some hooks will do. This keeps clutter from finding its way to the kitchen table, worktops and coffee table. Clutter is your enemy- it cramps your space with visual noise that is unappealing and make tidying a huge chore- such a pain when you don't know where to put all the detrious of life. I have no idea if any of this is helpful. I could go on and on.

Thank you for the representation of the room. What's on the other side of the open shelving? Is that a living room?

That's the place where we are planning to set up our TV

If that's where the TV is, then I suspect your family room will be centered around it using a sectional perhaps? That seems to leave a rather large area for a dining table in the remaining space. As Abby Krug mentioned, using a bench on one long side of the table will allow you to squeeze in more people and will allow you to push the table closer to the wall. The bar stools seem extraneous when you have an open concept like yours.

Because the room is so angular in a good way, I'd suggest a long rectangle table abutting the wall which would seat three on each side and one on the end.

We have two layouts to set up this. Please find the attached pictures of the both types. Since we are planning to go with a MODERN interior , I would like to have contrast colours bench and sofa in our Family area. We have an undisturbed view from the long window near the sofa.Please give me your comments

I prefer the second arrangement now that I see it. The couches look great. Now to find a huge piece of art for the left hand wall of the living room.

no 2. Avoids squishing everything in one area.

No. 2 flows better.

I think you should consider storage like these Besta units from IKEA for the wall in the living room. They have many different door options- some solid, some with graphic designs. You can do a few or a whole wall.