Hi Nitish, I believe that using default value the setup would work. However it depends on the application requirements. I would recommend you to keep both IGMP and IGMP Snooping enabled and test.
Also, to have the switch acting as a IGMP querier, you have to add an ipaddress to the vlan. This will be needed just in case the application "sleeps" for long time. If that happens, the switch will check if the subscriber is still alive by sending an IGMP packet, avoiding traffic issue.