Hi,
I am a Newbie to the world of RC and would like to start of with a Heli. I have found 2 copters that I have read about and are suitable for beginners.

Sym 107G: - http://www.amazon.com/Syma-S107-S107G-Helicopter-Colors/dp/8499000606

and

WL V911: - http://www.amazon.com/2-4GHz-Radio-Single-Propeller-Helicopter/dp/B00762BMOI/ref=sr_1_1?ie=UTF8&qid=1360855005&sr=8-1&keywords=WL+V911

I am keen on the WL V911 as the remote is 4 Channel and looks nice with the LCD display. Also if I go with this Model and when I need to upgrade to the next version can I use the same Transmitter

Training Kit:- I guess it is a must to go with a Training Kit as I have seen them being used in most training videos on Youtube
http://www.hobby-estore.com/Training-Kit-for-RC-Helicopter-Necessary-for-Begin-p/training-kit-4-heli.htm

Please help me with your expert advice. I will be practicing indoors initially to begin with

NottyHead

Go for v911 itself 
get it from here and save some bucks... 
http://www.banggood.com/Wholesale-Wltoys-V911-2_4ghz-4ch-Gyro-Remote-Control-Rc-Helicopter-Mode-2-New-Plug-Version-p-36779.html

check out MJX f47 heli too..... its good and better than 911 49$ on the same site

yup the mjx f47 is also very good

do you own it ?

no but reviews are very good and flight videos are proof of stability it is indeed more stable than the v911 ....

Thanks Guys. Also do I need to start by using A simulator before buying a RC Equipment. Are there any Transmitters that I can even use on my PC with a Simulator rather than have 2 different Transmitters one for the Simulator and another for the RC Heli.

I found 2 Simulators: - RealFlight and FMS

NottyHead

Dongle simulator available for 5$ on banggood.com but u will need 2 different tx as 911 tx cannot be used for simulator

You do not need to buy a training gear for the V911
The radio TX is a 4ch unit. The helis you probably will upgrade to will require a 6ch Tx - this radio will not help on an upgraded heli (unledd you want to stay with 4ch helis)