you need b250 motherboard with i5-7500 not b150
the factory cpu cooler works fine unless you just want water cooler for looks
get 2x4gb ram instead of 1x8gb if motherboard supports dual channel
might want to get a better quality power supply
Ok some serious problems in your build
First don't trust PcPartPicker India site, components are costlier than shown here.
Second a B150 motherboard needs bios update to use kabylake CPUs. Problem is, you need a skylake cpu to update the bios. Go for a B250 motherboard.
Also you don't need a separate cpu cooler for i7 7500. The included intel cooler is enough and will save you a lot of money.