Just sharing my findings and insight:
And also as suggested by you all, the two options that can provide cheaper module and receiver combo as discussed were OrangeRx and FrSky. However, I found that Turnigy 9X 2.4GHz 8Ch Receiver (V2) (
http://hobbyking.com/hobbyking/store/uh_viewItem.asp?idProduct=28452) was still cheaper than both of them. So I wanted to find a transmitter module compatible with Turnigy 9XR Pro and that can bind with Turnigy 9X 2.4GHz 8Ch Receiver (V2). Initially I could not find any. I also asked HobbyKing and they told me that there was no module that did the job.
As I was searching through their products I came across a DSSS module for Turnigy 9XR Pro Radio.
In the comments and feedback section I read that this module did bind with the Turnigy 9X 2.4GHz 8Ch Receiver (V2). Even if Hobbyking denied this, I risked ordering these. When I received them, I connected the receiver with the drone and the module to 9XR Pro. I followed the binding procedure and to my surprise I was able to bind the two together. I also managed to fly the drone with 9XR Pro + DSSS module + Turnigy 9X 2.4GHz 8Ch Receiver (V2) receiver.
So in my experience this combination worked. I still wonder why Hobbyking denied this.
Thanks and regards,
Raj