Sparse recovery of fluid flows using data-driven proper orthogonal decomposition (POD) basis is systematically explored in this work. Fluid flows are manifestations of nonlinear multiscale PDE dynamical systems with inherent scale separation that impact the system dimensionality. Given that sparse reconstruction is inherently an ill-posed problem, the most successful approaches require the knowledge of the underlying basis space spanning the manifold in which the system resides. In this study, we employ an approach that learns basis from singular value decomposition (SVD) of training data to reconstruct sparsely sensed information. This results in a set of four control parameters for sparse recovery, namely, the choice of basis, system dimension required for sufficiently accurate reconstruction, sensor budget and their placement. The choice of control parameters implicitly determines the choice of algorithm as either $l_2$ minimization reconstruction or sparsity promoting $l_1$ norm minimization reconstruction. In this work, we systematically explore the implications of these control parameters on reconstruction accuracy so that practical recommendations can be identified. We observe that greedy-smart sensor placement provides the best balance of computational complexity and robust reconstruction for marginally oversampled cases which happens to be the most challenging regime in the explored parameter design space.