it looks like that window is crucial for some light and your chimney is going to spoil the look, with light shining through the uncovered areas. ideally, your cooktop and sink should switch places but that's how it's setup right now. a window behind cooking area is generally considered a fire hazard.
i was expecting some cabinets alongside the chimney but there isn't a space for them. so a chimney would definitely enhance the looks. i was also expecting ventilators above the window and therefore, i suggested extractor fans. but the pictures gave a clear idea. here's what i suggest; see if it suits you:
1) leave your current exhaust fan at the current location. you'll need it as a back up.
2) plan your chimney's exhaust right above the window. bore a 5'' exhaust hole at the shortest length possible to hide the exhaust pipe right behind the chimney's exhaust cover.
3) don't buy aluminium flue as it's not required now. buy a 5'' PVC 'bend' instead and mate it directly to the coupler supplied with chimney, with aluminium tape (Rs 50). you can buy aluminium flue as well but you won't be able to cut it short without spoiling it.
any kind of flue exiting at the current exhaust fan location will mar the looks and it's not necessary when you've got an exit wall right behind the cooktop.
i couldn't make out if the window is cast iron or wooden. if it's cast iron then simply weld the latches at a lower location to operate the window. well, it's much more easier to relocate the latches on a wooden window.
i have double the size of chimney exhaust covers which almost touches the roof, just like in this pic:

in your case, you can adjust the height of your exhaust hole to achieve the same "hidden flue" look. attach some kind of cowl (pic below) on the outside to prevent backdraft, birds, lizards etc entering the exhaust opening.
yes, i have those hi-end Cata fans (
http://www.cataindia.com/Fan-X-Mart-Matic.php), meant for bathrooms. but i tested it in kitchen and it stayed there. i tried weird installations with extractor fans and then backed out as i thought those plastic fans would melt down.