In my current project we have to develop a good looking desktop based application in java.
Currently, we have a very basic desktop application written in swing and team
Check out pushing-pixels. Kirill is the author of Substance which provides a ton of new look and feel options for Swing. Here's a blog entry which shows a little bit of what is possible with Swing. There used to be a link to his 2007 presentation at Java One, but unfortunately the link no longer works.