What are the best specifications for a quad,.. the motor,esc etc? and the board.. i'd like to know the reason for so, i want to make a cheap convenient quad, which can carry 100 gms weight so that i can join it with a arduino setup.

You cant expect the best if you want it cheap!
How do you wish to join it with arduino? Do you mean to use it as Flight controller? You can but its gonna be difficult if you are a newbie so be prepared to do a lot of tuning and troubleshooting.

Anyways I will give you a setup which is not cheap, but its good enough.

You can make a tricopter to begin with, would cost less than a quad. You can make the frame yourself its cheaper that way.Get sunnysky motors, it will be best investment you make.
So

3* sunnysky motors+ 3 *20amp esc+ 2cw+2ccw props 10*4.5 + 2200 25c lipo = Rs 7500 approx (everything except battery from quadkopters and battery from rcbazaar.This is considering you have your own 4ch tx/rx ( 6ch will be better), lipo charger, flight controller and a servo.

Or go for http://www.quadkopters.com/product/cf250-quadcopter-arf-kit/
its the best kit within fair budget (Rs6500 with free shipping), and all you need is a atleast 4ch tx/rx and lipo charger.

Or you can go for the mini RTF quadcopters but you would loose interest soon and would want to upgrade.

nope , i am still in a dilemma regarding the connectors but i want to use different sensors in my plane. i'll use a kk2.0. and what i wanted to know was the suitable kv rating of the motor with prop specification.

cheers