Hi Srikar,
here are some links to balsa companys:
http://www.lonestar-models.com/
http://www.sigmfg.com/cgi-bin/dpsmar...FV4.html?E+Sig
http://www.balsausa.com
http://www.specializedbalsa.com
http://www.dbalsa.com/
your best bet is to call these places and ask for hand selected 4-6 pound contest balsa wood. And your right you may have to order 100 sheets to get the 40 sheets at 12 grams. usually the midwest wood at the LHS is the worst choice.
It's important to get the lightest 1/16" sheeting wood and the wood for the wing and stab tips, leading edges, tip blocks for the wings, stabs and fin and the capping wood for the ailerons and stabs. Also the 2" wood for the lower rudder block and lower fuse block. You can hollow these large blocks to 1/4-3/8 wall thickness.