Hey Mahadevan,
If you are doing this as a personal learning project, I encourage you to go ahead and do it, but if you just want to have a tool to help you organize the files, then I would suggest using iTunes or Winamp. Most of the library tools available have that capability built in already.
If you do want to write this yourself, then my personal choice would be to use C#, but only because its my language of choice right now.
You may wish to look at some of the articles here on CP for ideas/solutions.
Clickey