Go for AMD with a bit of caution. Intel charges a premium, but gives reliable performance as well as higher headroom to OC. AMD tends to drive their hardware to the limits, which is why they are not fun to OC at all... plus you gotta get good memory to squeeze the value. But they offer best bang for buck any day over Intel.
I recently upgraded my rig from an old i5 3rd gen to a Ryzen 3700x. Unfortunately, I have to admit that there were some missteps. Here's what I bought and what could have been better:
1. Ryzen 3700x (Rs25k) -> Great performance, but I realize it's overkill for my gaming and creativity needs. I could have used a Ryzen 3600 for the same real world performance. But no real regrets here. The stock cooler with 3700x does perform better and the RGB is pretty great. So that's about 1500-2000 bucks saved on the CPU cost compared to Intel, more if you were thinking of watercooling. Ryzen doesnt really need an AIO because like I said earlier, it's not that great to OC.
2. MSI Tomahawk Max B450 (Rs8.9k) -> The idea was to go for an economical last gen chipset with good features. But turns out a lot of performance for Ryzen is not only dependent on RAM, but also the motherboards. Based on online reviews, it looks like some of the new X570 boards not only provide PCIe4, but also push Ryzen closer to their max boost speeds, while others can max out at 100-250Mhz lower than rated max. Mine is on the bottom of that pile. Things may improve with BIOS updates, but I am not holding out hope. A Gigabyte X570 board would probably be the best value vs performance.
3. Corsair Vengeance 3200 (16-20-20-20-38) 8GB RAM x 2 (Rs6.6k)-> Since you need to get good RAM for Ryzen (clock speed>=3200 and low latency), this can be a challenge to find. Most places in Nehru Place stock 3000Mhz RAM with latencies like 20-20-20 or something. Anything above demands a premium. I managed to get a 3200Mhz set from one guy without paying a premium. But it doesn't OC well. Anything above 3200 or latency lower than 16-18-18-18-36 and the PC fails to POST.
Also, don't buy a single 16GB stick if your motherboard has 4 mem slots or you will lose dual channel performance benefits.
4. WD 500GB NVMe SSD (Rs8.5k) -> Oh my gosh. The performance improvement from my old Hybrid is massive. I've read that in most cases NVMe is overkill compared to a good SATA and performance will get bottlenecked if the other parts don't match the speed, but I am pretty happy with it. I could have opted for a 1TB SATA for the same price, but my current system did have sufficient space, so I wanted the fastest boot drive I could get my hands on. Boot up speed is like 5-6 seconds on W10.
On the whole I think I managed to get potatoes when it comes to the silicon lottery for CPU and RAM, but only in a relative sense. Real world performance remains amazing and I don't feel like I need to upgrade my Gigabyte GTX 980 this year either (I game on an ultrawide, so 2560x1080p gaming). So that's about 56k after taxes. A good 2070Super or Rx5700xt card should get you comfortably under the 1.1L margin with the remaining components combined. Lower still if you go for a Ryzen 3600 and a good X570 board.