Both versions works well for my taste buds Harsha. Love the calmness here. The trace of the grass blades add a lot here. Thanks for sharing..

Lovely composition. Very simle & neat presentation. Both, the colour & B&W versions look great.
Might reduce the saturation in blues a bit - to give the image further calmness.
I can vaguely remember Ganesh's image of similar kind from past.

Beautiful ! It highlights the calm and vastness of the lake. Like the tones.

I like the gray-scale image better; it's beautiful and subtle. The blue in this colour image is a bit rich for my taste, and so is the noise, which to me interferes with the tranquil, ethereal feel. I think that if you reduce the noise and pull back the saturation, the colour version could be as good as the gray-scale one. A good candidate for a print in your living room or bedroom.

I love this version for sure. Not that the BW version doesn't have impact but for my taste it is the vibrancy in this image which pulls me towards it. You may consider reducing the noise a bit which can be easily worked out.