Help building a (very low) budget gaming PC

Hey guys!

I have seen some guys here who seem to have quite vast knowledge of PC hardware so I thought it would be better to ask for advice here.

I'm looking into building a PC, and have no clue where to start. I am mostly looking to set up a machine to (hopefully) play

  1. games of current generation and at least the next 2-3 years (on at least medium settings) without any MAJOR upgrade
  2. pre-2013 games on ultra or at least high settings
  3. emulated PS2 games
  4. emulated Wii games (probably only MadWorld)

As of right now, I'd like to stay under 50k budget. I am coming from a stock Dell laptop and play old games on "Mobile IntelĀ® 4 Series Express Chipset Family" GPU. So I was thinking of building this new PC without getting a GPU to play old games with the chipset that comes with the motherboard and buy GPU after saving for a couple of months instead of buying a not-so-good GPU just to stay under a budget.
Also I don't want to waste money on any optical drive, as I can install OS with a USB and can always pirate games, and other peripherals like keyboard, mouse and monitor.
Thanks in advance!

Even a 4th gen CPU wouldnt have much graphics power to run 90% of games on medium. Intel GPU power is still not good enough.

Suggestion: Go for a strong CPU and motherboard AND a good casing. Graphics card can be upgraded easily later, these cpu and motherboard cant be upgraded everyday.

Why good casing? because when in future, if you choose to buy good graphics cards, you may need extra fans and cooling. Cheap casings dont have much ventilation. Also try to force yourself a bit more and buy a 1GB GDDR5 wala graphics card. DONT, i repeat DONT go for GDDR3 because its not effiecient nowadays. It would cost you around 55,000 total to build everything.