Hi Lavanya,
Plan according to your budget and number of people, if only few then you can present them nice wall paintings or hangings.
You can also plan show pieces, flower or fruit baskets which are available in different trendy shapes in shops, Small Ganesha idols, Wind chams or Happy man, etc..
For saree shoping in Hyderabad check this thread
saree shopping in hyderabad
Ever day one new variety comes into showrooms and keeps on changing. But latest you can go for designer wear or work sarees.
There are few varities like crepe, shiffon and printed silks which are all time hits and what ever trend changes but these will always remain in limelight